Ways to Find Historic, and Forecast, Macroeconomic Information

577 Words Jan 11th, 2018 2 Pages
Macroeconomic data is compiled by different government agencies, and their websites are the trusted source for this data. One is the Bureau of Economic Analysis (BEA.gov), which compiles GDP and trade figures. Another is the Bureau of Labor Statistics (BLS.gov), which compiles unemployment and inflation statistics. The St. Louis Fed is another site that has a wealth of historic economic data, along with some ability to process that data. The agencies are primary sources, and therefore the best sources for that data. Other countries, the IMF and World Bank perform the same function for international indicators. Exchange rate data can come from a reliable secondary source like OANDA.com. The Federal Reserve sites are reliable for the presentation of economic data, some of which will be primary-source and some of which will be secondary-source.
For economic forecasts, there are many sources. The most reliable is the Congressional Budget Office (CBO.gov), which bases its forecasts on both current data and its own analysis of current government policy. A number of financial institutions also produce economic forecasts, which can be purchased or will be given to their clients. These are usually also based on careful analysis of trends and data, though being commercial entities they are more likely to introduce bias into their work. Many think tanks will also produce economic…