Economists and normal people alike have been not so anxiously waiting for this week’s economic news. One month ago the economy was being boasted as the strongest it has ever been in history. Yet only one month later indications are building that the economy is anything but that. Some of these numbers are on a level that has not been seen in this country for nearly 100 years with the last time being during the original Great Depression.
<h2>Disturbing signs amongst the new economic indicators</h2>
So what exactly are these new indicators and how do they reveal the state of the economy in the United States. There is a growing viewpoint that just using stock prices is an insufficient way to measure the health of the economy as a whole. Here are the indicators that economists have been most interested in this week.
Unemployment rates increasing higher the anticipated</h2>
Each and every single week for the last four weeks in a row we have seen in excess of 5 million new jobless claims. These are just the initial claims too. That means that in total 22 million people filed for unemployment for their first time in the month of March. This is astounding and will have devastating effects on the economy long term.
Forecasted Homebuilding decline sharper then estimated</h2>
One of the lesser-known ways that economists like to measure the overall health of an economy is to look at how many houses are being built and how many are being bought. Right now there has been a large decline in the number of new homes being built. This is often a sign that a recession is right around the corner.
Economic Coefficient Index shows daunting times ahead</h2>
The coefficient index is a measurement of the economy that is put together by a team of economists that are known as The Conference Board. This barometer is made to measure current economic conditions in the country by analyzing multiple aspects of the economy and distilling the data into one easy to understand number. This has also been showing regular negative growth at a quick rate.
<h2>What Does This Indicate for the Foreseeable Future?</h2>
Most economists will tell you that it is not worth the time to try and predict the future. If anything the past few weeks should tell you that things can change dramatically overnight. For now, the best thing you can do is concentrate on the present moment but the more numbers that are coming in the more that it looks like we are entering into a significant recession.
See more information at <a href=”https://www.bloomberg.com/graphics/us-economic-recession-tracker/”>Bloomberg</a>