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Assignment on Forecasting Project

   

Added on  2021-02-21

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Forecasting Project
Assignment on Forecasting Project_1

Assignment on Forecasting Project_2

1. Data Description and Examination The variables which I have used for forecasting the project is “Total Private ConstructionSpending of the USA monthly data”. It is retrieved from Federal Reserve Economic Data(FRED) and collected from the source of U.S. Census Bureau - https://fred.stlouisfed.org/search?st=Total+Private+Construction+Spending+of+the+USA+monthly+data. This data is expressedin a percentage form, where percent changes from preceding period with a base year 2002. It iscalculated on every month and last updated on August 1, 2019. The term Construction defines asmanufacturing of new building and structures; renovation, reconstruction, expansion and othermajor replacements; installation of electrical and mechanical equipment like central air-conditioner, blast furnaces, etc. Total Construction spending classify on the basis of residential,non-residential, commercial, office and more. In addition to this, value of construction spendingincludes cost of materials, labour wages, profit and share of contractors, architectural andengineering work, taxes and instruction paid, etc. For forecasting the construction spending inU.S., data of previous years can be downloaded from website of FRED as shown below - FRED Graph ObservationsFederal Reserve Economic DataLink: https://fred.stlouisfed.orgHelp: https://fred.stlouisfed.org/help-faqEconomic Research DivisionFederal Reserve Bank of St. LouisMPCVXXXXSTotal Private Construction Spending, PercentChange from Preceding Period, Monthly,Seasonally Adjusted Annual RateFrequency: Monthlyobservation_dateMPCVXXXXS2002-02-010.22002-03-01-0.72002-04-011.82002-05-01-2.11
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2002-06-010.22002-07-01-0.52002-08-01-1.22002-09-01-1.12002-10-011.02002-11-010.82002-12-010.62003-01-011.62003-02-01-0.22003-03-010.02003-04-010.72003-05-010.92003-06-011.32003-07-011.72003-08-011.22003-09-011.62003-10-011.52003-11-011.22003-12-013.42004-01-01-1.32004-02-010.32004-03-011.62004-04-010.82004-05-011.22004-06-010.72004-07-012.92004-08-011.42004-09-010.12004-10-010.52004-11-010.02004-12-012.02005-01-011.52005-02-011.72
Assignment on Forecasting Project_4

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