Economic Indicators

Paper Summary:

The paper discusses the causes for the increase in the US GDP and why personal income grew. The paper looks at the federal discount rate and the primary credit rate and explains that the increase in primary credit rates indicated an increase in such banks and such credits. The paper relates that the Consumer Price Index or CPI represents the average change in prices over time of goods and services purchased by households and the paper notes an increase in the CPI. The paper examines how unemployment was higher for evacuees not living in their former homes because of Hurricane Katrina and discusses how housing permits decreased in every region. The paper reveals that consumers' opinions did not show likelihood of losing trust in the economy although total retail sales showed a decline and economists and analysts viewed the economy as slowing down.

From the Paper:

"Real gross domestic product or GDP represents the total output of goods and services by labor in a particular country, in this case, the United States (Bureau of Economic Analysis 2006). The US GDP increased at an annual rate of 2.9% from June 2--5 to June 2006 or 5.6% in March 2006 alone. This increase reflected positive contributions from personal consumption expenditures for services, private inventory investment, non-residential structures, exports, and state and local government spending. These were partly offset by negative contributions from residential fixed investment and federal government spending. Imports too increased and would be debited from the calculation of GDP."

Sample of Sources Used:

• Bankrate.com. (2006). Federal Discount Rate. Bankrate, Inc. http://www.bankrate.com/brm/ratewatch/fedDiscountRate.asp
• Bureau of Labor Statistics. (2006). Consumer Price Index Summary. Us Department of Labor. http://www.bls.gov/news.release/cpi.nr0.htm
• Bureau of Economic Analysis. (2006). Overview of the Economy: Perspective from the BEA Accounts. US Department of Commerce. http://www.bea.gov/bea/glance.htm
• Department of Statistics. (2006). Bermuda Retail Sales Index. http://www.gov.bm/portal/server.pt/gateway/PTARGS_0_2_934_227_1014_43/http%3B/portalcontent/gov.bm%3B7087/publishedcontent/publish/cabinet_office/statistics/dept_statistics_retail_sales_index/articles/june_2006_0.pdf
• Economic Indicators. (2006). Employment, Unemployment and Wages. Superintendent of Documents. http://www.findarticles.com/p/articles/mi_m1ECO/is_2006_Feb/ai_n16119021

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