Economic Conditions Applied For Farmers Bank & Trust

Bank, T. W. (2014, June 01). Global Economic Prospects. Retrieved from Shifting priorities; building for the future: http://www.worldbank.org/en/publication/global-economic-prospects

The health of the current U.S. economy appears to be growing gradually. The second quarter real GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed) is expected to raise interest rates in the near future when it sees clear signs of strong economic growth and improvements in the job market.

The global GDP is expected to grow 3.2% in 2011. The financial crisis is no longer setting the pace for developing countries. (The World Bank Group, 2011) Developing countries are close to having regained full-capacity levels. The global crisis is slowly coming to an end. (The World Bank Group, 2011)There are many factors still playing a role in countries such as Japan with the tsunami. (The World Bank Group, 2011) However, it appears the global economy is on a upward slope.

My prediction is that GDP will increase steadily in the future. According to econedlink.org, a nation’s maximum or potential GDP or its potential output is the highest level of output that can be maintained over the long term, given any constraints on the nation’s productive resources. And a limit supply of labor, natural resource, service and capital will result in the limit of potential output, which means, the limit of GDP (2015, econedlink). Besides, according to our textbook, the determinants of economic growth to which we can attribute changes in growth rates include four supply factors: changes in the quantity and quality of natural resources, changes in the quantity and quality of human resources, changes in the stock of capital goods, and improvements in technology (2015, McConnell)

Global growth is an increase in the amount of goods and services produced per head. The graph shows that there is a clear correlation between global economic growth and international trade. Up until 1990 to 2008 both global economic growth and international trade steadily increased. However in 2008 when there was a global recession world exports where 16000bn which surpassed world GDP which was 70,000bn. After 2008 both world exports and world GDP fluctuated, in 2010 world exports decreased however it slowly increased to exceed world GDP. Currently both are at the same point on the graph with world exports at 19000bn and world GDP at 80,000. Therefore the graph demonstrates a clear causal link between global growth and global

In general, the global economic outlook remains weakness in 2015. The growth in emerging market and developing economies is still more than 70% of the global growth, but it declined for the fifth consecutive year, whereas, the developed economics continue a moderate recovery.

The forecast for US GDP for the next five years is positive with an average rate of 1.94 percent. From 2016 to 2020, the growth of US GDP as per the forecast will be 2 in 2016, 1.8 in 2017, 1.9 in 2018, 2 in 2019 and 2 percent in 2020 respectively (United States | Economic Forecasts | 2016-2020 Outlook). According to the actual or aggregate forecast for the next five years, US GDP will be $ 18,295 billion in the year 2020. Therefore, the trend is positive, and US GDP will continue to rise gradually.

To fulfill this purpose, America's Blueprint: Great Recession 2.0 analyzes the cross-sector macroeconomic drivers and challenges of the changing global economic landscape the United States faces today. For the past sixty-five years, the United States rejected numerous opportunities to take corrective actions to prevent what we call the Great Recession 2.0. Our analysis indicates the United States and the global economy as a whole will face trying times as early as the third-week of September

The U.S. economy appears to be in upward swing following three consecutive quarters of weak GDP. Underpinning third quarter growth of 3.5% was robust consumption, which posted a 3% annual change. Expectations for the fourth quarter are for 1.9% growth, placing the yearly change at 1.6%. Although 2016 will match the weakest yearly growth rate since the financial crisis ended, the focus is clearly on the strength in the past two quarters and outlook over the next three years.

The current rate of GDP growth, according to the Bureau of Economic Analysis, is 2.7% (for Q3), and it was 1.3% in Q2 of this year. This rate reflects relatively slow growth, with challenges remaining in the domestic market and with sluggishness in Europe suppressing exports to that region. The rate of GDP growth is predicted to slow to a decline of 0.5% between Q4 2012 and Q4 2013, the US re-entering recession, according to the Congressional Budget Office's projections. These projections are based on the provisions of the Budget Control Act being enacted, though any observers are doubtful that this will occur.

The year 2017 seems to be one setting in significant changes both in the political and economic scenes. Every other person who has even the slightest interest in current global trends understands that these two issues relate to each other at a very high level. The political atmosphere in the United States is known to greatly affect not only the local, but also the world economy. With a new president taking seat this year, the economic ripple effect will undoubtedly not go unnoticed. To add more significance to this is that the new president (Donald Trump) is by far an economist, greatly contrasting the nation’s history

First, from the textbook, Economic Growth, I collected the real GDP all over the world from 1995 to 2005. And I calculated the GDP growth rate in each country by the growth rate equation: g=[(Xt+1)/(Xt)](1/n)-1.

The global economic conditions have a direct bearing on the local economic condition within the nation. This means that the product (SOC) has also be greatly affected in terms of demand and distribution. The global economic growth has been noted to have slowed down over 2012 and this trend is expected to be sustained over the next two years. This means there will be a downgrade to the earlier projected growth rate, though there still will be a growth rate, albeit at a lower pace than was hitherto foreseen. The UN Department of Economic and Social affairs (2013) forecasts a 2.4% global growth in 2013 and a further 3.2% global growth in 2014. This means that the recovery from the job loss that was triggered in 2008 recession takes longer. What this means for the local microeconomic situation in the country is that more people prioritize the essential and basic goods first and considering the daily consumption supply as a priority. This negatively impacts on my business since the cards that are exchanged globally, particularly during the special seasons and occasions are often considered secondary needs hence one would get into buying on either online or physically, if and when they shall have fulfilled their primary needs.

Having been relatively resilient to the crisis in 2008, China has become the second largest economy to Japan (GDP) and the leading exporter to Germany in 2011. Since 2010, China 's growth continues to slow: it increased from 10.3% in 2010 to 7.7% in 2013. The IMF expects annual GDP growth of 7.6% in 2013 and 2014 .

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