Description Of An Seasonally Adjusted Data

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Subject Code: ECON10003 Subject Name: Introductory Macroeconomics Student ID Number: 762224 Student Name: Laura Walker Assignment Name or Number: 1 TUTOR: Saqib Manzoor TUTORIAL: Tuesday 8:00am – 9:00am QUESTION ONE a. Seasonally adjusted data March quarter 2014 - March quarter 2015 December quarter 2014 - March quarter 2015 Australia 2.3% 0.9% United States 2.9% 0.14966% (≈0.150%) (Australian Bureau of Statistics, 2015) (Bureau of Economic Analysis, U.S. Department of Commerce, 2015) There is a slight difference in growth change over the past year for the US and Australia (by 0.6%). The difference between the respective levels of growth over the December quarter 2014 – March quarter 2015 is greater (0.89).…show more content…
Department of Commerce, 2015) c. In the Australian National Accounts the largest industry sector in the March quarter 2015 is "mining" (B) (total: $35 173 million value added). The second largest is "Financial and insurance services" (K) (total: $34 842 million value added). The "Information media and telecommunications" (J) industry sector experienced the highest rate of growth in the twelve months March quarter 2014 - March quarter 2015 at 11.1% change. QUESTION TWO Australia: CONSUMER SENTIMENT: "The Westpac–Melbourne Institute Index of Consumer Sentiment fell by 3.2% in July from 95.3 in June to 92.2 in July." (Westpac Institutional Bank, 15 July 2015) (Trading Economics, 2015) Consumer confidence plays a major role in indicating the future performance of an economy as it influences household consumer expenditure which for many countries (including US and Australia) is the most significant proportion of GDP. Therefore, changes in this variable will have an effect on GDP; and is likely to be a leading indicator of growth (real GDP). By falling 3.2% it suggests there is lesser confidence than previously in aspects such as future employment prospects and consumers views on the
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