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Economic Forcasting Paper

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Economic Forecasting Paper By ECO/ 372 November 18, 2013

Learning Team Reflection Week Two List of resources to gather historical economic data and economic forecast data Some of the resources, which are useful to gather historical data as well as forecasting the new data include Bureau of Economic Analysis, U.S. Department of Commerce and FRED, Economic Time-Series Database, Bureau of Labor Statistics, Census Bureau, Congressional Budget Office (CBO), Office of Management and budget (OBM), Federal Reserve Releases (FRB), NBER'S Macro-Historical Database, New York's Fed's statistics and data, Statistical abstract of the United States and CIA world fact book. How and why each source is valuable and useful FRED database; allows citizens to see how the country's financial state is. The data includes the national economic and financial date “including interest rates, consumer price indexes, employment and population and trade data. The Bureau of Economic Analysis; includes estimates concerning national, international, and regional economic activity. It also provides statistics decision influenced by the government officials, business people, households and individuals.” (History matters. 2013. Para 3, 5). The Bureau of Labor Statistics gives specific information about employment, unemployment, consumer price index, and producer price index. The Bureau of Labor Statistics updates the United States import prices and export prices. Productivity results are recorded and analyzed. The Bureau of Labor Statistics reports the unit labor cost. The Census Bureau provides a variety of information of population. From how many members are in a household to where those members work. The census bureau also establishes the median average income per household.

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