Economic forecast

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This is an 8-page report based upon the outline provided of where the economy is headed and the prospects for National Economy. Based upon your reading
and research what is the state of the Economy, is it declining or improving trends, and what does the next 6 – 12 months look like in that industry or overall
economy based upon your research.
This paper must be submitted in a Microsoft Word file 12-point font, double spaced, 8 written pages exclusive of title page, table of contents, reference page,
and appendices containing charts, tables, and graphs.
8 topics for economic forecast paper
1. Duration of unemployment
2. Average work hours
3. Consumer debt
4. Housing market
5. Demand of US goods
6. Supply of goods
7. Prime rate
8. Consumer price index
(Prime rate should be interesting. Google the “Hayekian Triangle” and then YouTube multiple videos on “The Austrian Theory of the Trade Cycle.)

 

Sample Solution

The January 2023 World Economic Outlook Update projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024. The 2023 forecast is 0.2 percentage point higher than predicted in the October 2022 World Economic. The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024. Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023. In a plausible alternative scenario with further financial sector stress, global growth declines to about 2.5 percent in 2023 with advanced economy growth falling below 1 percent. Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly. Inflation’s return to target is unlikely before 2025 in most cases.

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