Question

Go to the website of the Bureau of Economic Analysis and find the growth rate of real GDP for the most recent quarter, 2019 fourth quarter. Go to the website of the Bureau of Labor Statistics and find the inflation rate over the past year 2019 and the unemployment rate for the most recent month, March 2019.

• How do you interpret these data?

• What do you think will the growth rate of real GDP be for first quarter of 2020? And unemployment rate for April 2020? And inflation rate for April 2020?

Answer 1

On the website of the Bureau of economic analysis we can glimpse that in the third quarter of 2019 GDP rose for 1.9 percent . By the October of 2019 inflation rate was 1.7 percent as it is affirmed on the website of Bureau of labor statistics. On this same website , I also noticed data for unemployment rate is 3.6 percent . According to on this data I can come to an end that economy is doing well , since there is a jump up in GDP(Gross domestic product) with low unemployment rate followed with stubby inflation rate.

The turned down in the first quarter GDP(Gross domestic product) was , in section , due to the retaliation to the shake out of COVID-19 , as Governments issued "stay-at-home" , "Lockdown", "Shutdown" , "2 meter distance" etc orders in March . This lead the way to an expeditious changes in the demand , as businesses and schools switched to remote work or canceled functionings , and consumers canceled , restricted or redirected their go throughing . The full economic effects of the COVID-19 pandemic cannot be mensurated in the GDP (Gross domestic product) approximate for the first quarter of 2020 because the impacts are normally lodged in source data and cannot be disparately identified . In September 2020 , India saw an unemployment rate of over six percent. This was a noteworthy improvement from the previous months. A damaging jolt on an economy as large as India’s give rised to due a total lockdown , shutdown, stay at home and was approaching Unemployment went up to 24 percent on May 17, 2020. This was maybe a result of a decrease in stipulation as well as the Disruption of workforce came to accept by companies. In addition, this caused a GVA(Gross value added) loss of more than nine percent for the Indian economy that month.