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How to obtain macroeconomic data from fred

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Step-by-step instruction of obtaining M1, GDP, CPI, and Unemployment rate data from FRED at Federal Reserve Bank of St. Louis.

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How to obtain macroeconomic data from fred

  1. 1. Step-by-step Instruction of Obtaining Economic Data from Federal Reserve Bank of St. Louis Dr. Ryoichi Sakano North Carolina A&T State University
  2. 2. Overview This presentation shows how to get economic data from FRED at the Federal Reserve Bank of St. Louis web site. This web site offers various macroeconomics time-series data that can be used for many macroeconomic and financial economic analysis. It provides data including • Money supply and its components • Interest rates • Unemployment rates • GDP and its components • CPI and other price indexes
  3. 3. Go to the Federal Reserve Bank of St. Louis web site: https://www.stlouisfed.org/
  4. 4. Click “FRED”
  5. 5. New Window pops up. Click “Category”
  6. 6. You see the categories of macroeconomics time-series data, including Money Aggregate, GDP, Unemployment, Price Index, and Interest Rates.
  7. 7. To obtain money supply data such as M1, choose “Monetary Data” under “Money, Banking, & Finance.”
  8. 8. You see several categories of monetary aggregates including M1 and M2 and their components. To get M1, choose “M1 and Components” under “Monetary Data.”
  9. 9. You see a list of various M1 measurements and its components. M1 data are available in weekly and monthly and in SA (seasonally adjusted) and NSA (non-seasonally adjusted).
  10. 10. For weekly data of seasonally adjusted M1 data, choose “Weekly, Seasonally Adjusted” under “M1 Money Stock.”
  11. 11. You see a time-series chart of M1 since 1975. In addition to the name of data (M1 Money Stock), it indicates its variable name (M1), below which it shows “Units” (Billions of Dollars, Seasonally Adjusted), and “Frequency” (Weekly, Ending Monday) on this data. Make sure to verify these information.
  12. 12. It presents the most recent number of M1 under “Observation”. When you click (+more) under “Observation”, a drop-down box presents the last five observations and “View All”, which pops up another windows listing all observation since 1975. On the right, you have options of “Download” the data in Excel and other file format and “Edit Graph” to change observation unit. To see recent five data, click “(+ more)”. To see all data, click “View All” in drop- down box. To download the data, select “Download” You can change the data range. You can change observation units.
  13. 13. Selecting “Edit Graph” gives options to change units of observations (e.g. change, percent change) and frequency (e.g. monthly, annual), and allows you to customize the graph such as adding another data series or modifying the data (e.g log).
  14. 14. Selecting “Download” pops up drop-down box of option of file types. If you want use for analysis later, you may choose “Excel” format, which will prompt you to save data on you PC.
  15. 15. Once downloaded, start Microsoft Excel and open the downloaded file. The Excel sheet contains the name of data and other data information, and the date and corresponding values.
  16. 16. Instead, if you select “View All” under (+more), you see the same data in txt format.
  17. 17. Go back to “M1 and Components” page, in addition to M1, you can find various components of M1 such as currency in circulation.
  18. 18. Go back to “Monetary Data” and select “M2 and Components”, you see M2 and its components just like M1.
  19. 19. Go back to “Categories”. You can find many other macroeconomic data, including GDP, Unemployment, Price Index, and Interest Rates. Click here to get Price Index Data Click here to get Interest rates Click here to get unemployment rate Data Click here to get GDP Data
  20. 20. To get GDP data, select “National Accounts” under “Categories”, next select “National Income & Produce Accounts”, then select “GDP/GNP”.
  21. 21. It lists various GDP and its components measures including real GDP, nominal GDP, GDP deflator. For real GDP, select “Real Gross Domestic Product”.
  22. 22. Like M1 data, it presents a time-series chart of real GDP and most current real GDP number. To view the data, select “(+more)”, then “View All”. To download the data, select “Download”
  23. 23. Selecting “Download” pops up a drop-down box with options of file format. You may select “Excel” for later use of for analysis on your PC.
  24. 24. Instead, if you select “+(more),” then “View All” on drop-down box, you see the entire data in txt format.
  25. 25. To get CPI data, select “Prices” under “Categories”, then select “Consumer Price indexes”. For CPI, select “Consumer Price Index for All Urban Consumers: All Items”.
  26. 26. Like GDP data, it presents a time-series chart of CPI and most current CPI number.
  27. 27. To get Unemployment rate data, select “Population, Employment, & Labor Markets” under “Categories”, next select “Current Population Survey”, then select “Unemployment Rates”.
  28. 28. For commonly measured unemployment rate, select “Civilian Unemployment Rate”. This is also called the U-3 measure of labor underutilization.
  29. 29. Like GDP data, it presents a time-series chart of Unemployment rate and most current unemployment rate number.
  30. 30. Any Questions? Contact me at sakanory@ncat.edu
  • AmandaTeague6

    Apr. 5, 2019

Step-by-step instruction of obtaining M1, GDP, CPI, and Unemployment rate data from FRED at Federal Reserve Bank of St. Louis.

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