Economics Statistics Report 213

ECONOMICS STATISTICS REPORT

Kimberly Scott

ECON 213/ sec 3

ESR 3

1. The Unemployment Rate was 8.3% in July 2012. It has remained the same for this year. Since July 2011

there has been a decrease in the UR. In July 2011 the UR was at 9.1% and July 2012 it is now at 8.3%.

2. The Consumer Price Index was unchanged SA in June 2012.

3. The Core Rate was +0.2% SA in June 2012.

4. a. The Gross Domestic Product "increased at an annual rate of + 1.5% in the second quarter of 2012,

according to the third estimate released by the Bureau of Economic Analysis."

b. 2011 Q1-Q4 (real) GDP growth was up (+) 1.8%.

5. May exports (E) of $183.1 billion and imports (I) of $231.8 billion resulted in a goods and services deficit

of $48.7 billion which is down from 50.6 billion in April..

6. The changes in the Gross Domestic Product over the last year has clearly increased. The 1st quarter was

0.1%, 2nd quarter was 2.5%, 3rd quarter was 1.3% and 4th quarter was 4.1%. The Real GDP has increased

4% from the 1st quarter to the 4th quarter of 2011. In 2010, the Real GDP remained steady with no major

increase or decline. (*) The average was 2.4% for 2010 which essentially is more then it was in 2011. The

reasons for the increase could be due to the unemployment rate dropping. More people are obtaining jobs

resulting in the prices of goods and services to increase. Business owners/managers would be intersested

in this information because it informs them of how much production should be increased or decreased based

on the amounts of goods and services bought. The firm would not want to make a lot of goods if the

economy is not buying them.

(*) Bureau of Economic Anaylsis, News Release

http://www.bea.gov/newsreleases/national/gdp/2012/pdf/gdp2q12_adv.pdf