Research Seminar in Quantitative Economics
Big word, any clue what it means?
Research Seminar in Quantitative Economics RSQE, is part of the University of Michigan and has been predicting economic forecasts since 1952. They provide economic forecasts in the United States, 7 times a year.
They currently finished their annual conference in Ann Arbor, being held at the Rackham Amphitheater. Saul Hymans is the Director of RSQE and is a widely known economist and emeritus Professor at U.M. in economics and statistics.
Despite a slumping housing market, rising oil prices, flat auto sales, and a week dollar, lack of consumer confidence, the United States will not slip into a recession, according to the new forecast from the University of Michigan economists.
If you would like to read more details click here.
The chart below shows the accuracy of the Michigan Forecasters from 1972 through 2006. Pretty impressive.
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This is welcom news...I sure hope they are right!
Missy, these guys have a pretty impressive track record! I'll bet they're right this time, too!
Missy - I think 2008 is going to be an awesome year for REALTORS and the mortgage industry. People just need to stop listening to all the nay-sayers. This is an awesome graph!
Missy, That is the kind of news we like to hear! Their past performance is impressive. So let's hope thaey repeat this time!
Ginger
UM forecast says economy poised to heat up Thanks for the info...
Missy, now if the major media would make that a big story it would be GREAT. Problem won't happen though; I don't think they like reporting good news.
Missy,
I'm not an economist, but I think this is good news...let's keep our fingers crossed!!!
Optimism....that's where it's at! The chart is great and by the looks of all the data and info...well, I really hope this means that it'll turn around soon.
This is news I like to hear. I have heard rumblings otherwise so I am hoping they are correct.
Missy - Their track record looks good and I do love positive news however based on certain indicators I am not so sure they are going to be right this time, but I would love to be proven wrong.
Missy,
great information and nice to come to your blogs, keep them good, hope to read them often.
Ray Saenz
Missy- This is great news. Now, what media has picked this up to run with it? None you say? Well, gee I wonder why! Well, not down here anyway, they just like the bad stuff. Katerina
The brain trust at U of M has normally been right on the mark. The graph you showed reinforces that. This is certainly good news!
Hate to be the contrarian. But, if they are 2.5% off as in 1997-2001, we could be in a lot of trouble.
Of course, they could always do what the government does, adjust.
Missy, I was never a fan of Michigan but now I think I might change my views..:-)
Missy--I bet this report (which leaves out gloom and doom) is not going to be a headline on the evening news. Thanks for sharing the info!
Hi Missy,
I choose to believe these experts. I agree with many comments here that what we need is the media to report these opinions instead of the "doom and gloom". Thanks.
Missy, I am curious myself to see how the shopping goes this time of year as that has an impact. If they have a good track record then I, too, am hoping they are right. I hear all the analyzing on the news and they are making such dire predictions---now I turn it off!
Missy - How refreshing to hear some positive financial news for a change. Thanks for spreading the word.
Missy,
I like Optimism! I need some more right now :0)
Tom Weiss
Missy... you and this entry are on my RT Blog today. I was in MI this weekend. Talking to a Ford employee whose plant is being shut down this week.... I said we are going into a recesssion... Good thing I don't have a clue what I AM talking about. Thanks for the good news.
I always say that U of M is the bomb!!! I sure hope and pray that they are right.
We need more positive news like this - I never knew another U of M could give my UM a run for its money (University of Miami).
Postive Post Missy -great news for a change! By the way how did you get those snap shot things to come up when the cursor scrolls over the links:)
Sincerely,
Grace Safrin
Maureen, that is cool.
Rick and Ines, LOL
Grace, go to snap.com and follow the instructions.
Missy - this is great news for us all! Thanks for sharing, I love your Blog!! Sorry I haven't been by as much lately, I'm trying to get out more! LOL! Happy Holidays to you and your family, have a Blessed and Safe Thanksgiving!
Missy - let's hope this is so - we could use some good news - we can always count on you for a lift! Happy Thanksgiving!
Missy, in Inman News yesterday they had an expert say there was a 45% chance of a recession. It's so hard to know who to believe...there are so many experts as in any profession!
Diane, I saw that, that is one reason I put their historical data in so I'm believing them.
Missy, This is great news. I have seen signs of a good spring market in my area. I will share your
Missy, from the looks of the chart, this is good news. I really believe that the negativity spewed by the media fuels more negativity. Why haven't I heard about this on the "news"?
Missy, this is Great News! Their track record looks impressive too. I hope their accuracy continues as in the past. Thanks for sharing!
I have to agree with the others, when is the media going to pick up on stuff like this?