Economic Indicator Forecast Essay Example | Topics and Well Written Essays - 500 words

Economic Indicator Forecast - Essay Example State of Oregon projects that GDP will fall by 2.6% a rate that is not alarming in the short run given the resilience the economy has shown. Unemployment rate: Projections for unemployment (% of the labor force) are that the rate will be 5.2%. This is higher than the 4.7 % given by the Office of economic analysis (State of Oregon). The forecast is based on the fact that productivity growth rate has remained weak since 2004 GDP Deflator. IMF projects the figures for this indicator to be 2.0%. This is same as the figure given by the office of economic analysis Current account balance (% of GDP) IMF says that current account balance will decrease by 6.1% while the Office of economic analysis (State of Oregon) give their forecast as 5.0% this is attributed to the performance of the import market that will be adversely affected by the upward moving interest rates. Oil prices. Due to geopolitical factors namely volatility in the Middle East, and increasing demand especially in emerging mar kets, oil prices are set to remain high with both IMF and office of economic analysis agreeing on their projections that prices for the next quarter will be in the upward of $54 per barrel. Consumer price index (CPI). According to IMF, CPI will be 2.4% while the Office of economic analysis (State of Oregon) projects a 2.6% change. The rising cost of energy is among the factors that will influence this trend