Reference no: EM131051930
PURPOSE
To familiarize you with the sources of economic information that are important to business decision makers.
Imagine that your boss asked you to help her to prepare the company's sales forecast for the coming two years. In the past, she felt that trends in the nation's GDP, U.S. manufacturing, and manufacturing in Illinois were especially helpful in forecasting sales. She would like you to do the following:
1. Go to the Bureau of Economic Analysis's website ( www.bea.gov) and locate the gross domestic product data. Compare the annual figure for the last four years. What do the figures indicate for the next couple of years?
2. At the Bureau of Labor Statistics' website ( www.bls.gov) under Industries, click on Industries at a Glance to find the information about the manufacturing industry. What is the employment trend in manufacturing over the last four years (percentage change from preceding period)?
3. Return to the Bureau of Labor Statistics' home page and use the Search feature to find trends in employment for the state of Illinois. Look around the website to see what other information is available. Plot the trend in manufacturing employment in Illinois over the last four years. On your own, discuss what economic changes may have influenced that trend.
4. Based on the information you have gathered, write a brief summary of what may happen to company sales over the next couple of years.
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With the sources of economic information
: Imagine that your boss asked you to help her to prepare the company's sales forecast for the coming two years. In the past, she felt that trends in the nation's GDP, U.S. manufacturing, and manufacturing in Illinois were especially helpful in fore..
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