If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.

The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.

Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.

Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)

So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.

For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.

Home / Markets / Industries / Industrials

Thursday, June 12, 2008

Xerox Simplifies Loan Process with Electronic Signature; Supports Industry's Drive toward E-Mortgages

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ROCHESTER, N.Y., Jun 12, 2008 (BUSINESS WIRE) ----In a move to help the mortgage industry process loans faster and enhance customer service, Xerox Mortgage Services has added e-signature - a secure and convenient way to complete mortgage loans without having to sign hardcopy documents. This enhancement builds upon Xerox's (NYSE: XRX) current Web-based BlitzDocs(R) Collaboration Suite that uniquely supports paper, imaged and electronic loan documents.

Mortgage participants can now sign new or re-financed home loans online by simply pointing their mouse to, and clicking on, the document's signature line. Electronically signed documents are then securely managed and stored in a repository, known as an electronic vault. Audit tracking detects where the documents travel throughout the system to keep tabs on any transactions made during the loan lifecycle.

E-mortgage solutions allow mortgage lenders to turn loans around quicker with greater control, reduce printing and mailing costs, and make a positive impact on the environment.

"Mortgage lenders who embrace electronic signatures have a competitive advantage in today's complex marketplace," said Greg Smith, vice president, Xerox Mortgage Services. "Xerox's enhanced e-mortgage functions offer our customers the most comprehensive solution for paperless mortgage transactions in the industry."

Licensed through eSign Systems, a division of Wave Systems Corp. (NASDAQ: WAVX), the electronic signature capabilities will help expand the BlitzDocs' network of mortgage participants - giving users access to a larger pool of financial lending institutions and other service providers.

"For the mortgage industry to thrive it must drive down costs while improving customer service," said Jeanne Capachin, research vice president, IDC/Financial Insights. "Vendors that can arm their customers with a total package - the right combination of technology and services, will help the industry weather a challenging time."

Customer Contact:

For more information about Xerox Mortgage Services, visit http://www.xerox.com/mortgageservices.

Note: For more information on Xerox, visit http://www.xerox.com or http://www.xerox.com/servicesnews. For open commentary and industry perspectives, visit http://www.xerox.com/blogs or http://www.xerox.com/podcasts.

Xerox(R), BlitzDocs(R), the Xerox wordmark and the spherical connection symbol are trademarks of Xerox Corporation in the United States and/or other countries.

SOURCE: Xerox Corporation

Xerox Corporation Falynne Smith, +1-585-423-1391
   Falynne.Smith@xerox.com or Text 100 for Xerox Corporation Melissa Zandman, +1-617-399-4914 melissaz@text100.com

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