Business performance and opportunity are influenced by trends in the broader social, political, legal, and economic environment. In this guide, we will explore macroeconomic indicators that you will find in Data Planet that might be factored in when forecasting or predicting how a given industry or business will perform. Statistics you find may be easily exported for analysis in other statistical programs. Reseachers at Data Planet subscribing institutions are encouraged to contact their library for information on accessing bulk exports.
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Consider what trends in the wider environment impact an industry of interest. For example, the breakfast foods industry relies on production of grains, such as wheat. Use Data Planet to rank US states by total wheat production using US Department of Agriculture data, which can be located by using Search and filtering results or by Browse by Source and selecting USDA, as in the chart below:
A purchasing agent might examine how the quality of the harvest varies between top producers. To do this, change the chart type to trend, and select North Dakota and Montana..
Also of interest would be the CPI of breakfast products, which can be tracked using Bureau of Labor Statistics data:
The US is currently in a recession, largely due to the economic upheaval caused by COVID-19. Analyze how Kellogg's stock performed during prior recessions using stock data, which can be found in Browse by Subject → Banking, Finance, and Insurance. Zoom in on the chart by clicking on a point on the trend line and dragging your cursor to the right..
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