Description
The detail of the homework is in the file.
Part I: Data Collection
Part II: Data Processing
Part III: Data Interpretation
Part I: Data Collection
Use FRED database to obtain the following quarterly data to complete Write-up 1:
https://fred.stlouisfed.org/
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
Running head: DATA INTERPRETATION
Economic Data Interpretation
Student’s Name
Institutional Affiliation
1
DATA INTERPRETATION
2
Economic Data Interpretation
The report provides the findings from collected economic data over the years for various
economic attributes. Bell, Bryman, and Harley (2018) defined data interpretation as the act of explaining
the insight developed from the piece of analyzed information essential in making inferences suitable for
decision making. In this case, the elaboration will involve making inferences from collected and
processed economic data, using various indicators, such as the US Actual GDP, GDP per capita,
Domestic Investment, among other economic attributes. The information is presented in the charts and
table below and an inference provided to explain the observed unique trends associated with the
American economic growth.
Real Gross Domestic Product
Real Gross Domestic Product, Billions of Chained 2012 Dollars, Quarterly, Seasonally Adjusted Annual
Rate
20000.0
Billion of Chained 2012 Dollars
18000.0
16000.0
14000.0
12000.0
10000.0
8000.0
6000.0
4000.0
0.0
1947-01-01
1948-05-01
1949-09-01
1951-01-01
1952-05-01
1953-09-01
1955-01-01
1956-05-01
1957-09-01
1959-01-01
1960-05-01
1961-09-01
1963-01-01
1964-05-01
1965-09-01
1967-01-01
1968-05-01
1969-09-01
1971-01-01
1972-05-01
1973-09-01
1975-01-01
1976-05-01
1977-09-01
1979-01-01
1980-05-01
1981-09-01
1983-01-01
1984-05-01
1985-09-01
1987-01-01
1988-05-01
1989-09-01
1991-01-01
1992-05-01
1993-09-01
1995-01-01
1996-05-01
1997-09-01
1999-01-01
2000-05-01
2001-09-01
2003-01-01
2004-05-01
2005-09-01
2007-01-01
2008-05-01
2009-09-01
2011-01-01
2012-05-01
2013-09-01
2015-01-01
2016-05-01
2017-09-01
2019-01-01
2000.0
Observation Date
Figure 1: The graph shows the growth of real GDP (Source: Federal Reserve Bank 2019)
Inference
From figure 1 above, the real GDP seasonally adjusted depicts an increasing growth over the
years. Nonetheless, there is a notable decline in the first and second quarter year 2009, indicating an
economic recession marked by declined economic activities.
Percent Change From Year Ago
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
1948-01-01
1949-06-01
1950-11-01
1952-04-01
1953-09-01
1955-02-01
1956-07-01
1957-12-01
1959-05-01
1960-10-01
1962-03-01
1963-08-01
1965-01-01
1966-06-01
1967-11-01
1969-04-01
1970-09-01
1972-02-01
1973-07-01
1974-12-01
1976-05-01
1977-10-01
1979-03-01
1980-08-01
1982-01-01
1983-06-01
1984-11-01
1986-04-01
1987-09-01
1989-02-01
1990-07-01
1991-12-01
1993-05-01
1994-10-01
1996-03-01
1997-08-01
1999-01-01
2000-06-01
2001-11-01
2003-04-01
2004-09-01
2006-02-01
2007-07-01
2008-12-01
2010-05-01
2011-10-01
2013-03-01
2014-08-01
2016-01-01
2017-06-01
2018-11-01
Billion of Chained 2012 Dollars
0.0
1947-01-01
1948-05-01
1949-09-01
1951-01-01
1952-05-01
1953-09-01
1955-01-01
1956-05-01
1957-09-01
1959-01-01
1960-05-01
1961-09-01
1963-01-01
1964-05-01
1965-09-01
1967-01-01
1968-05-01
1969-09-01
1971-01-01
1972-05-01
1973-09-01
1975-01-01
1976-05-01
1977-09-01
1979-01-01
1980-05-01
1981-09-01
1983-01-01
1984-05-01
1985-09-01
1987-01-01
1988-05-01
1989-09-01
1991-01-01
1992-05-01
1993-09-01
1995-01-01
1996-05-01
1997-09-01
1999-01-01
2000-05-01
2001-09-01
2003-01-01
2004-05-01
2005-09-01
2007-01-01
2008-05-01
2009-09-01
2011-01-01
2012-05-01
2013-09-01
2015-01-01
2016-05-01
2017-09-01
2019-01-01
DATA INTERPRETATION
Real Gross Domestic Product % Change
3
Real Gross Domestic Product Per Capita
Real gross domestic product per capita, Chained 2012 Dollars, Quarterly, Seasonally Adjusted Annual
Rate
70000.0
60000.0
50000.0
40000.0
30000.0
20000.0
10000.0
Observation Date
Figure 2: The graph shows the growth of GDP per Capita (Source: Federal Reserve Bank 2019)
Inference
From figure 2 above, the real GDP per Capita reveals an upward trend over the observation dates.
Similarly, the chart shows a significant reduction in the GDP per Capita in the year 2009 first and second
quarter the time marked by a global economic recession.
GDP and GDP per Capita Percent Shift from Year Ago
GDP & GPD Per Capita Percent Change From Year Ago
Real gross domestic product per capita % Change
Observation Date
Figure 3: The chart depicts the GDP &GDP per Capita Percent Change from A year Ago (Source:
Federal Reserve Bank 2019)
DATA INTERPRETATION
4
Inference
Figure 3 above represents the percent shift a year ago for the economic attributes GDP and GDP
per Capita. The percent variation a year ago for the GDP and GDP per Capita reveals an oscillating
pattern around the means 2.0% and 3.2 % for GDP per Capita and GDP respectively.
Real Consumption, Investment & Government Expenditure to GDP Ratio
Real Consumption, Investment & Government Expenditure to GDP Ratio
PCE/GDP
GPDI/GDP
GEXPND/GDP
0.8
0.7
Bil.of $/Bil. of $
0.6
0.5
0.4
0.3
0.2
0
1947-01-01
1948-05-01
1949-09-01
1951-01-01
1952-05-01
1953-09-01
1955-01-01
1956-05-01
1957-09-01
1959-01-01
1960-05-01
1961-09-01
1963-01-01
1964-05-01
1965-09-01
1967-01-01
1968-05-01
1969-09-01
1971-01-01
1972-05-01
1973-09-01
1975-01-01
1976-05-01
1977-09-01
1979-01-01
1980-05-01
1981-09-01
1983-01-01
1984-05-01
1985-09-01
1987-01-01
1988-05-01
1989-09-01
1991-01-01
1992-05-01
1993-09-01
1995-01-01
1996-05-01
1997-09-01
1999-01-01
2000-05-01
2001-09-01
2003-01-01
2004-05-01
2005-09-01
2007-01-01
2008-05-01
2009-09-01
2011-01-01
2012-05-01
2013-09-01
2015-01-01
2016-05-01
2017-09-01
2019-01-01
0.1
Observation Date
Figure 4: The chart illustrates the Consumption, Investment & Government Expenditure to GDP Ratio
(Source: Federal Reserve Bank 2019)
Inference
Figure 4 above depicts the real consumption, domestic investment, and government expenditure
to the GDP ratio over the years. Notably, the line graphs reveal a relatively constant ratio for the attributes
against the GDP with minimal deviations.
DATA INTERPRETATION
5
Descriptive Statistics
Table 1: The table illustrates the summary statistics of the economic attributes (Source: Federal Reserve
Bank 2019)
Real GDP
Descriptive
Statistics
Average
Standard Deviation
Minimum
Maximum
8611.51
5097.43
2023.45
19023.02
Average
Standard Deviation
Minimum
Maximum
7269.25
4104.25
2023.45
15761.97
Average
Standard Deviation
Minimum
Maximum
17000.67
1125.45
15189.22
19023.02
Real GDP
per capita
Real
Real Investment Real Government
Consumption to
to GDP ratio
expenditure to GDP
GDP ratio
ratio
Total Sampled data
33358.70
0.63
0.17
0.30
13353.32
0.03
0.02
0.04
13999.00
0.59
0.13
0.19
57797.00
0.69
0.21
0.38
Sampled data up to/ including Quarter 2 2009
30168.30
0.63
0.17
0.29
11485.90
0.03
0.02
0.04
13999.00
0.59
0.13
0.19
52049.00
0.68
0.21
0.37
Sampled data from Quarter 3 2009
53298.75
0.68
0.16
0.34
2446.75
0.00
0.01
0.02
49384.00
0.68
0.13
0.33
57797.00
0.69
0.18
0.38
Inference
Table 1 above reveals the descriptive statistic for different economic attributes. Compared to the
mean for the total sampled data, the average GDP declined for the period before and including the second
quarter 2009 depicting US$ 8,611.51 bn to US$ 7,269....