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The study includes a set of surveys for the month of October 2017. According to the job condition survey, nonfarm payroll employment rose by 261,000. In addition, the unemployment rate fell to 4.1 percent. As a result, the economic outlook for the month of October was positive.
The study served its purpose by educating the public about the job rate in October. Because of the effects of Hurricanes Irma and Harvey, jobs in food service and drinking establishments rose dramatically in October compared to September. In addition, employment growth occurred in hospitals, engineering, financial services, and practitioners. The report shows a better economic performance in the month of October. The information in the report is invaluable to the investors due to the reaction of the employment situation to the market. Statistics also provide insights into the direction that employment and wages are taking.
Consumer Price Index Summary
The CPI shows that the month of October faced inflation as the CPI for all urban consumers increased by 0.1%. There was continuous inflation falling from the previous 12 months which saw an increase of 2.0%. Importantly, inflation was not a threat to the economy.
The report has focused its analysis on the population in urban areas who make a population of about 89% of total US. Therefore, the information can be relied upon for analysis of the country’s economic performance. Importantly, the rate of CPI increase was at low levels.
The month of October saw some level of inflation, but the level was not too high to threaten the economy. The major cause of season inflation was shelter while all other items except food and energy increased in prices steadily.
Gross Domestic Product
There was an increase in the annual rate of GDP by 3.3% in the third quarter of the year. The report shows that the United States’ economy has been performing well.
The information from the report can be relied upon in analyzing and understanding the economic performance of the country. Private inventory investment, the downturn in imports, and constant spending in local government contributed to the increase in GDP. The country has seen an increase in business spending as they anticipate for a cut in the corporate tax leading increase in GDP.
There is positive economic growth in the US. The report provides critical information to policymakers, employers, investors, and citizens at large on the general performance of the country.
Consumer Confidence Index
The Consumer Confidence Index increased further in November from October. United States’ citizens are therefore optimistic about the future economy of the country and are showing the same through spending and saving activities.
The report was not based on actual statistical data; rather, it was opinion based opinions from the citizens. However, the opinion of the public also provides necessary information for evaluating economic performance. Usually, citizens get affected the most when economic performance fluctuates. The results are important for investors as it encourages investments.
The positive consumer confidence index, therefore, shows that citizens are optimistic about economic performance in the future. As such, they will continue to spend and save.
The Conference Board Leading Economic Index
The conference board LEI showed a sharp increase in October following positive growth in the country. The Leading Economic Index shows that the future economic activities in the United State will be positive.
The conference board LEI consists of reliable information as the index has been calculated with reliable indicators like the Leading Credit Index like stock prices, weekly manufacturing hours, and interest rate spread which all showed positive growth. Also, the report incorporated an indicator that showed negative growth which was the manufacturer of a new order for nondefense capital goods.
The United States will see positive growth in the future as predicted by the Conference Board LEI. All citizens benefit from the information to make right decisions, for instance about, investments, savings, and spending.
Consumer Price Index Summary. (2017). Bls.gov. Retrieved 30 November 2017, from https://www.bls.gov/news.release/cpi.nr0.htm
Consumer Confidence Index(2017). Conference-board.org. Retrieved 30 November 2017, from https://www.conference-board.org/data/consumerconfidence.cfm
Gross Domestic Product: Third Quarter 2017 (Second Estimate). Corporate Profits: Third Quarter 2017 (Preliminary Estimate). (2017). Bea.gov. Retrieved 30 November 2017, from https://www.bea.gov/newsreleases/national/gdp/2017/pdf/gdp3q17_2nd.pdf
The Employment Situation. (2017). Bls.gov. Retrieved 30 November 2017, from https://www.bls.gov/news.release/pdf/empsit.pdf
The Conference board Leading Economic Index (LEI) for the United State (2017). Conference-board.org. Retrieved 30 November 2017, from https://www.conference-board.org/pdf_free/press/US%20LEI%20-%20Tech%20Notes%20Nov2017.pdf
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