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Recent Trends In Economic Variables Essay

868 words - 4 pages

In order to assess the current state of the economy, the examination of important economic indicators or variables has always played a vital role in the understanding of the complex economic systems we live in. The analysis of these economic variables studied by many, not only has served as a tool to evaluate the current economic performance of a country, but also has allowed experts to envisage and continue the pavement of an economy's road. Currently, some economic variables have had favorable improvements indicating a general good outlook for the economy for the following months, requiring a further individual analysis and comparisons in order to foresee crisis or successes.

One of the important economic variables being tracked is the consumer price index released by the Conference Board every month. Lately, people have claimed the economy seems to have a fair projection for consumer spending to some extent based on a 3.2 index increase in the last report. More specifically, thanks to the recent spending of the top 15% households comprised by higher income families, according to the report made by Kathleen Madigan of the Wall Street Journal in the article "Vital Signs: The 15%ers Are Feeling Better — and That’s Good for Economy’. However, the article and the chart posted note an important observation regarding the study of this trend. In 2012, the Commerce Department data implied the economy would suffer as high-income consumers felt nervous about the state of the economy generating a cutback in spending. Nevertheless, the trends seems to be different nowadays given that the economy is reacting to a new financial atmosphere in a new season. The data presented by Commerce notes wealthier families have decreased their spending in rent and tobacco products in the previous month without hurting the economy as it occurred two years ago, though they are still spending money on luxury products. In conclusion, the current outcomes for this economic variable are indicating good signs regarding future consumer spending, and an overall fair improvement for the economy in this aspect.

Month PMI® Month PMI®
Jan-14 51.3 Jul-13 54.9
Dec-13 56.5 Jun-13 52.5
Nov-13 57 May-13 50
Oct-13 56.6 Apr-13 50
Sep-13 56 Mar-13 51.5
Aug-13 56.3 Feb-13 53.1
Another important economic variable used to predict the behavior of gross domestic product (GDP), and obviously vital to analyze an economic environment, is the Purchasing Managers Index (PMI). Based on the latest report by the Institute...

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