Write a 3 page essay on Goods market data.

Download file to see previous pages…The economy suffered from a sharp increase in energy prices in the second half of 2004. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. (See appendix 1)

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Industrial production increased 0.9 percent in October after a drop of 1.5 percent in September. Hurricane-related recoveries in many industries and the resolution of a strike at a major aircraft producer contributed significantly to the increase in output. At 107.9 percent of its 2002 average, output in October was 1.9 percent above its year-earlier level. Manufacturing production increased 1.4 percent, a rise that more than reversed its September decline of 0.7 percent. Output also moved down in the industries for machinery and for furniture and related products. Production increased slightly in the industries for textiles and products, for paper, and for printing and support, while output was unchanged in the food, beverage, and tobacco products industry. (See appendix 2)

Real personal consumption expenditure increased by 3.4% in Q2 2005, compared with an increase of 3.5% in Q1. Durable goods purchases increased by 7.9% (2.6% in Q1), while nondurable goods purchases increased by 3.6% (5.3% in Q1). Notably, domestic investment dropped by 3.7%. (See appendix 3)

Real Private Fixed Investment (1 decimal) (See appendix 4)

2: Labor market data that includes:

Unemployment Rate

The unemployment rate has ranged from 4.9 to 5.1 percent since May. The unemployment rates for adult women (4.6 percent), teenagers (15.9 percent), whites (4.4 percent), and blacks (9.1 percent) showed little or no change over the month. The jobless rates for adult men (4.3 percent) and Hispanics or Latinos (5.8 percent) both declined from September. Nonfarm payroll employment was little changed (+56,000) in October, and the unemployment rate was essentially unchanged at 5.0 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Average hourly earnings of production or nonsupervisory workers on private nonfarm payrolls rose by 8 cents over the month. For major indicators of labor market activity, seasonally adjusted refer to the Appendix 5 and 6, where numbers are in thousands.

3: Price data includes:

Goods and Services

GDP Deflator

The GDP deflator has been averaging in the low 2% range for much of this decade. As the table below indicates, everything from housing prices, food, utilities, medical costs, gasoline, and retail goods have been rising at much higher rates. By understating inflation, government statisticians have been overstating GDP growth.