Economic Forecasting & Weekly Reflection

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Economic Forecasting & Weekly Reflection ECO 372 Economic Forecasting & Weekly Reflection Introduction Economic forecasting and Historical economic data is impertinent to the financial world because it will allow individuals to understand how the economy should be in the future, based on historical and current data that was gathered. There are many databases available via the internet to find information to help with economic forecasting, as this paper will explain. This paper will also include how the topics that were discussed this week, applies to our personal and professional lives, and what our comfort level is with the understanding of each topic. Part 1 The Library of Economics and Liberty (http://www.econlib.org/library/sourcesUS.html) is important and useful because it offers primary sources that are responsible for collecting and maintaining up to date data and the secondary sources offer increased select ability, usability, and speed of delivery.” This sources has tabs for an encyclopedia you can get featured biographies. There is a place where one can get economy articles as well. One can listen to recordings of podcasts that are on the economy. The U.S. Department of Commerce: Bureau of Economic Analysis. ( http://www.bea gov/newsreleases/regional/gdp_metro/gdp_metro_newsrelease.htm) This resource shows the GDP by the metropolitan area. It shows the different accounts such as national, International, regional, industry and integrated accounts. This information through interactive data can be printed, saved, and exported. The National Bureau of Economic Research (http://www.nber.org/data/) this source gives us other sources for data such as macro data, industry, productivity and digitization data, international trade data, individual data, etc. The Federal Reserve (http://www.federalreserve.gov/econresdata/statisticsdata.htm) This
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