Economy Review Charts
Overall, the regional economy of New England shows encouraging signsof growth during the first quarter of 2004. New England's repeat-saleshome price index specifically suggests that prices of individual homesincreased in 2004. Total merchandise exports showed strong growth in NewEngland during the first quarter of 2004, with strong growth in exports toGermany, Singapore, the Netherlands, and Malaysia. Further, unemploymentrates show signs of dropping both nationally and in New England in the Existing home sales showed strong national growth from 2003 to 2004.In the United States overall, existing home sales roles approximately sevenpercent from the first quarter of 2003 to the first quarter of 2004. Datafor New England was not available for this time, by Maine and Connecticutshowed an increase of close to 14 percent, New Hampshire rose over 13percent, and Massachusetts rose close to 12 percent. Rhode Island saleswere below the national average, at slightly less than five percent. Thesesales include cooperative unites, condominiums, and single-family homes. Prices of existing homes also increased from the first quarter of
25percent nationally, and under five percent in New England. Unemployment Unemployment in both the United States and New England showed astrong increase since the NBER-dated recession of 2001, but droppedslightly in 2004. Prices in RhodeIsland showed an impressive increase of close to 16 percent for the sametime period. Prices in Hartford,New Haven, Portland, Boston, Worcester, and Providence also rose at asimilar rate from 2003 to 2004. Nationwide, median sales prices rose fromclose to $160,000 in 2003 to close to 180,000 in 2004. Nationwide, merchandise exports were at almost 120percent of 1997 levels in the first quarter of 2001, but dropped to a lowof close to 95 percent in the first quarter of 2002. Nationally, exports to Singapore rose about 16 percent,to the Netherlands increased about 20 percent, and increased to Malaysia byapproximately 27 percent. Transportation role close to 35 percent, while miscellaneous manufacturingrose almost 40 percent. 2003 saw further increases to close to six percentnationally, and close to 5. The repeat-sales home price index shows a solid rise in the price ofindividual houses from the first quarter of 2003 to the first quarter of2004. The first quarter of 2003 sawgrowth to approximately 100 percent of 1997 levels both in New England andnationally, while the first quarter of 2004 saw continued growth inmerchandise exports for both New England and nationally. The dollar value of merchandise exports increased both nationally andin New England from 2003 to 2004. This growth isseen in the important economic sectors of housing, exports, andunemployment.
Common topics in this essay:
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Worcester Providence,
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Prior NBER-dated,
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Similarly England,
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quarter 2003,
merchandise exports,
home price index,
recession 2001,
home price,
price index,
repeat-sales home,
percent quarter,
nber-dated recession,
repeat-sales home price,
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low close,
quarter 2003 quarter,
percent 1997 levels,
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Acceptance Essays
