In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending. This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster. There is no official definition of a recession, according to the IMF.
A consumer confidence index (CCI) is an economic indicator published by various organizations in several countries.
Institute for Supply Management (ISM) is the world's oldest and largest supply management association. Founded in 1915, the U.S.-based not-for-profit educational association serves professionals and organizations with interest in supply management, providing education, training, qualifications, publications, information, and research.
The Non-Manufacturing ISM Report on Business is a purchasing survey of the United States service economy, published by the Institute for Supply Management since June 1998. Its results are a popular economic indicator and forecaster. The survey is currently written by Anthony Nieves, C.P.M., CFPM, the Senior Vice President of Supply Management for Hilton Hotels Corporation.
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic indicators include various indices, earnings reports, and economic summaries: for example, the unemployment rate, quits rate, housing starts, consumer price index, Inverted yield curve, consumer leverage ratio, industrial production, bankruptcies, gross domestic product, broadband internet penetration, retail sales, price index, and changes in credit conditions.
A global city is a city that serves as a primary node in the global economic network. The concept originates from geography and urban studies, based on the thesis that globalization has created a hierarchy of strategic geographic locations with varying degrees of influence over finance, trade, and culture worldwide. The global city represents the most complex and significant hub within the international system, characterized by links binding it to other cities that have direct, tangible effects on global socioeconomic affairs.
Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. If the consumer has confidence in the immediate and near future economy and his/her personal finance, then the consumer will spend more than save.
The Ivey Purchasing Managers Index (IPMI), also known as the Ivey PMI, is an economic indicator in Canada that reflects month-to-month changes in the dollar value of purchases as reported by a panel of purchasing managers across various sectors. Jointly sponsored by the Purchasing Management Association of Canada (PMAC)—now integrated into the Supply Chain Management Association (SCMA)—and the Richard Ivey School of Business at Western University, Ontario, the index serves as a key measure of economic activity in Canada.
The American Customer Satisfaction Index (ACSI) is an economic indicator that measures the satisfaction of consumers across the U.S. economy. It is produced by the American Customer Satisfaction Index based in Ann Arbor, Michigan.
The Conference Board Leading Economic Index is an American economic leading indicator intended to forecast future economic activity. It is calculated by The Conference Board, a non-governmental organization, which determines the value of the index from the values of ten key variables. These variables have historically turned downward before a recession and upward before an expansion. The per cent change year over year of the Leading Economic Index is a lagging indicator of the market directions.
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group, following the release of World Development Report 2002. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. Higher rankings indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Other researchers find that the distance-to-frontier measure introduced in 2016 after a decision of the World Bank board is not correlated with subsequent economic growth or investment.
The Philadelphia Fed Report, formally known as the Business Outlook Survey and sometimes abbreviated as BOS, is a monthly survey produced by the Federal Reserve Bank of Philadelphia which questions manufacturers on general business conditions. The index covers the Third Federal Reserve District, namely covers eastern and central Pennsylvania, the nine southern counties of New Jersey, and Delaware. The report is sometimes also called the Philadelphia Fed Index because it includes reporting of some index values.
Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment.
Philip Poh is a professor that developed the Singapore Purchasing Managers Index (PMI) in 1998. After a successful pilot survey, the Singapore PMI was launched in January 1999 and the index has become a barometer of the Singapore manufacturing economy. In 2002, government officials in China sought the advice of Professor Poh to develop the China PMI. Since then, the China PMI has also become an indicator of the global manufacturing economy.
Multidimensional Poverty Indices uses a range of indicators to calculate a summary poverty figure for a given population, in which a larger figure indicates a higher level of poverty. This figure considers both the proportion of the population that is deemed poor and the 'breadth' of poverty experienced by these 'poor' households, following the Alkire & Foster 'counting method'. The method was developed following increased criticism of monetary and consumption-based poverty measures, seeking to capture the deprivations in non-monetary factors that contribute towards well-being. While there is a standard set of indicators, dimensions, cutoffs and thresholds used for a 'Global MPI', the method is flexible and there are many examples of poverty studies that modify it to best suit their environment. The methodology has been mainly, but not exclusively, applied to developing countries.
Female participation and advancement in majority Muslim countries, or nations in which more than 50% of the population identifies as an adherent of the Islamic faith, have traditionally been areas of controversy. Several Western nations, such as the United States and Western Europe, have criticised majority Muslim nations for the lack of involvement and opportunity for women in the private sector.
The Employee Confidence Index is a measure of employees’ overall confidence in the economy, their employer, and their ability to find other employment. The Index, like other employee confidence studies, is designed to show how the supply and demand of labour in various industries effects employee confidence and satisfaction. Currently, the Employee Confidence Index is only published in the United States using data collected from American citizens.
The 2015-2016 Chinese stock market turbulence began with the popping of a stock market bubble on 12 June 2015 and ended in early February 2016. A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event. Major aftershocks occurred around 27 July and 24 August's "Black Monday". By 8–9 July 2015, the Shanghai stock market had fallen 30 percent over three weeks as 1,400 companies, or more than half listed, filed for a trading halt in an attempt to prevent further losses. Values of Chinese stock markets continued to drop despite efforts by the government to reduce the fall. After three stable weeks the Shanghai index fell again by 8.48 percent on 24 August, marking the largest fall since 2007.
The ISM Report On Business (ROB), also known as the ISM Report, is the collective name for two monthly reports, the Manufacturing ISM Report On Business and the Services ISM Report On Business(formerly Non-Manufacturing), published by Institute for Supply Management. The ROB is based on a national survey of purchasing managers tracking changes in the manufacturing and services sectors. It is considered to be one of the most reliable economic barometers of the U.S. economy and gives an important early look at the health of the nation's economy. In addition to being market moving, the ROB makes an important contribution to the American statistical system and to economic policy. It also has one of the shortest reporting lags of any macroeconomic series.
The Singapore Institute of Purchasing and Materials Management (SIPMM) is a not-for-profit, independent professional organisation founded in 1972 with the aim to enhance managerial effectiveness of professionals in purchasing, logistics, materials and supply chain management. The mission of SIPMM is to lead professional competence in purchasing, materials, logistics, and supply chain management.
