FUNK-WK3-Assignment-Macroeconomic Forecasts - Copy

FUNK-WK3-Assignment-Macroeconomic Forecasts - Copy -...

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Running Head:  Funk-Macroeconomic Forecast   1 Macroeconomic Forecast An Analysis Prepared for Professor Mike Lawrence The Economics of Business (BM 341) Marylhurst University, Marylhurst OR Prepared by Greg Funk Student of Marylhurst University Resident of Wilsonville, Oregon October 17, 2010
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Funk-Macroeconomic Forecast    2
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Macroeconomic Forecast When looking forward using macroeconomic forecasts, it is important to look both nationally and local. The Livingston Survey will be used to provide the national view, while the most recent forecast from the State of Oregon’s Office of Economic Analysis will be reviewed for the local view. The Livingston Survey is just that a survey of 40 “economist from industry, banking, and academia” (Livingston Survey, 2010). The Oregon economic forecast comes from “15 economists employed by state agencies … [and] 12 economists from academia, finance, utilities and industry” (Oregon Economic Forecast, 2010, p 3). Using both forecasts this paper will look at GDP, inflation, unemployment, and interest rates. Gross Domestic Product (GDP) The Livingston Survey predicts the nations real GDP “will rise at an annual rate of 3.3 percent for both halves of 2010” (Livingston Survey, 2010, p 1). The Livingston Survey also predicts that GDP growth will “fall to 3.0 percent” during the first half of 2011 (Livingston
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