Compare and contrast at least two two-year forecasts from separate sources for real GDP and Producer Price Index
Look for the differences among forecasts for each indicator and a rationalization for which forecasts are most accurate. My industry is household appliances. I am also trying to find where to look for how the household appliance industry uses these forecasts to affect operational and planning industries.
The economic forecast is an important process for the organizations, which operates in a particular industry in an economy. The forecast of real GDP and producer price index are important economic indicators, which helps to businesses to change their strategies according the future economic environment.
Real GDP Forecast
According to the Consensus Economics the real GDP growth rate for 2010 is 2% and for 2011 it would be 3.3% more from the year 2010 (Consensus Economics, 2010). On the other hand change in the real GDP over the period for the year 2010 is 3.3% and for year 2011 it is 2.5% according the Scotiabank group forecast (global Forecast Update, 2010). The Scotiabank used cyclical forces of recovery in order to forecast the change in real GDP of US for next two years. The growth in real GDP is forecasted after considering a number of growth factors, which would contribute in the performance of US. The forecast from Consensus Economics provides a slow and consistent growth in real GDP while Scotiabank Group's forecast provides a higher growth in first year but a lower growth rate in next year.
The forecast for real GDP from the Consensus Economics is also ...
This solution provides assistance with the forecast of GDP and PPI.