As industry workers, business owners, investors, or other interested parties, we understand that it is important for you to be up-to-date with current information, especially when it comes to the market and economy. There are a handful of ways that you can assess how the United States economy is doing, and below we will be briefly covering these leading economic indicators.
As of early this year 2020, based on these indicators the American economy was deemed steady. There was strong economic growth, low employment, and below-target inflation. However, there are unexpected occurrences that can quickly and drastically impact the economy, such as the COVID-19 coronavirus. What was once a year of steadily going strong, has now been weakened by a contagious global virus.
If you are interested in receiving a reliable and accurate growth forecast report based on the economic changes that COVID-19 caused, then contact our Research Professionals. If there’s another report topic that you need, we can get that for you!
Core Inflation at 2.3%
Inflation is defined as the measure of increasing prices. The current rate of inflation is 0.1% as of January 2020. The entity who monitors the core rate of inflation is the Federal Reserve, since it leaves out gas and volatile food prices. The influence of seasonal variations is removed when the inflation rate is year over year. The Federal Reserve has a 2% target rate, and that degree of inflation is healthy for the economy because consumers anticipate prices rising, motivating them to purchase now, rather than wait until later.
273,000 Jobs Added in the Month of February 2020
A strong and healthy economy will generate around 150,000 jobs on average. When the consumer demand for products or services increases, the need for workers does as well. Manufacturing jobs in particular are an indicator of economic stability. Those who work in manufacturing in the United States earn around $80,000 per year, with benefits. When manufacturers have to start laying people eoff, this means the economy will be heading towards a recession.
GDP Growth at 2.1% in the Fourth Quarter
The gross domestic product is what measures the economy, as there’s a dollar value for anything that was produced in that year. The key indicator is the GDP growth, as it compares the current quarter to the last. An economy that is healthy will have a GDP growth rate of between 2-3%. Over 3% may mean that the economy is overheating and below 2% may mean that the economy is at risk for contraction. A GDP rate below zero signifies a recession.
Analyzing the economy and market can be difficult without current and accurate information at hand. Our Research Professionals are happy to get you the reports you need, without the stress of having to dig it up yourself online. And many of the information that you may come across on the interweb may be outdated, incorrect, or entirely false. Contact us today!