The International Monetary Fund increased its forecast for U.S. GDP growth this year to 2.8 percent, versus 0.8 percent for the Euro Area and the 0.9 percent average for the non-U.S. G-7 countries. Competitiveness is said to be the primary term in Brussels these days, as it should be. The average EU worker produces just 70 percent of the goods and services as the average U.S. employee. Europeans have used all sorts of excuses for the growing transatlantic difference including Americans’ worse life style that includes longer working hours and fewer hours at the café. The Economist has cited other factors, including greater American entrepreneurship and willingness to change jobs. It should be noted that the differences are even greater...
This morning’s Consumer Price Index (CPI) report makes it less likely that the Fed will hike short-term rates at the September Federal Open Market Committee (FOMC) meeting. Consumer prices declined in June as energy prices moved sharply lower following a temporary peace agreement between...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.