Thursday, June 18, 2009

Quirky Economic Indicators

You probably know that our economy is going through a recession. Some of my students might recall that one definition of a recession is 2 straight quarters of falling gross domestic product. A quarter is a three-month period. The definition actually uses "real" GDP, which is GDP adjusted for changing prices and is often on a per capita basis (per person). But some other things show that we are in a recession and that is where 10 Quirky Economic Indicators comes in. These other factors, like falling GDP, show that the economy is having problems. For example,

"The National Gardening Association finds that the number of households who will grow their own fruits, berries, vegetables and herbs this year is 19% higher than in 2008.

That makes 43 million gardeners in the United States this year. It's fun and relaxing, no doubt, but 54% of the respondents say the prospect of saving money on groceries motivates them to till the soil."

Other indicators are related to movies, dating and mosquito bites.

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