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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.
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Wednesday, July 09, 2008
DreamFactory Offers Cloudware Suite on Intuit QuickBase Development Platform
Comtex
MOUNTAIN VIEW, Calif., Jul 09, 2008 (BUSINESS WIRE) ----DreamFactory, a pioneer in cloud-based Web applications and development tools, today announced the company will offer its entire DreamFactory Suite on the new Intuit (Nasdaq:INTU) QuickBase(R) Development Platform. DreamFactory's project management and collaboration cloudware will soon be readily available to millions of businesses using Intuit software.
The new QuickBase Developer Program is a comprehensive offering for independent software vendors, or ISVs, enabling the rapid development, provisioning and fulfillment of Web applications for businesses built on the QuickBase infrastructure. Applications built on the platform allow for easy integration with QuickBooks(R), used by more than 3.7 million small businesses nationwide.
The DreamFactory Suite is anchored by the popular DreamTeam Project Manager Module, with Gantt chart, and includes Collaborative Calendar, Document Manager and Time & Expense Module. DreamTeam was designed with the power collaborator in mind, allowing teams to manage projects more effectively while increasing productivity.
"Intuit offers a tremendous opportunity for us and other developers," said Eric Rubin, CEO of DreamFactory. "First, they have a comprehensive technology platform in QuickBase that allowed us to deliver our suite in record time. Second, they offer a very compelling business opportunity to market our products into a ready installed base of nearly 25 million employees at companies using QuickBooks."
"We are excited to have DreamFactory as a charter member in our new ecosystem," said Bill Lucchini, vice president and general manager of Intuit QuickBase. "They have a proven track record and our small business customers stand to benefit greatly from their mature suite of innovative collaboration products."
Pricing, Availability and Registration
For a limited time this summer, the DreamFactory Suite is scheduled to be available for free in beta on the Intuit Marketplace. To sign up to receive more information about the beta program, please visit: http://www.dreamfactory.com/quickbase/beta.
About Intuit
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks(R), Quicken(R) and TurboTax(R) software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries(R) and Lacerte(R) are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $2.67 billion in its fiscal year 2007. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
About DreamFactory
DreamFactory is a publisher of cloudware, the next generation of business applications built native to cloud/utility computing platforms. Our DreamFactory Suite offers enterprise project, document and data collaboration capabilities for a new type of knowledge worker- the power collaborator. DreamFactory is the first company to deliver a cross-platform cloudware suite deployed on Amazon Web Services, Intuit QuickBase, Cisco Connect, and Salesforce.com. Headquartered in Mountain View, Calif., DreamFactory has more than 1,000 customers.
Intuit, the Intuit logo, QuickBooks and QuickBase, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
SOURCE: Intuit Inc. and DreamFactory
Airfoil Public Relations Andy Kill, 650-691-7311 kill@airfoilpr.com or Intuit Inc. Chris Repetto, 650-944-2641 chris_repetto@intuit.com
Copyright Business Wire 2008
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