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Economics Indicators

Homebuilding: Economic Indicator & Forecast

The U. S. economy generally performed well for the first half of 2007 as measured by key economic indicators, such as: the gross domestic product, unemployment, consumer confidence and spending, retail sales, inflation, and personal income. The Gross Domestic Product has expanded about the same average rate as the second half of 2006; however the pace has been uneven. The housing activity declined further in the second quarter of 2007 in response to the continued softness in home sales and still elevated inventories of unsold new homes (Federal Reserve). Businesses added jobs at a rate of 2-1/4%, with unemployment remaining at 4-1/2 percent. Consumer confidence rebounded in August 2007 as gasoline prices receded, resulting in an increase in consumer spending. Retail sales have seen a slight reduction mainly due to the decline in home sales. The inflation rate has picked up mainly due to energy and food prices, but continues to be......


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Approximate Word Count: 3707
Approximate Pages: 15 (250 words per double-spaced page)

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