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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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Thursday, June 19, 2008
Publicis Groupe in Strategic Joint Venture in China
Comtex
PARIS, June 19, 2008 /PRNewswire-FirstCall via COMTEX/ ----Publicis Groupe today announced a new strategic joint venture between its global advertising network Saatchi & Saatchi, and Energy Source, Chinese leader in interactive solutions. The joint venture will be formed following various governmental approvals. The agency will be called Saatchi & Saatchi Energy Source Integrated Interactive Solutions and will capitalize on the combined strengths of Saatchi & Saatchi's international scale and renowned creative expertise, as well as Energy Source's digital and interactive capabilities, in order to provide solutions to clients though a completely seamless holistic offering.
Based in Shanghai and Guangzhou, Saatchi & Saatchi Energy Source will specialize in integrated interactive solutions, CRM centric marketing and online PR. The client roster already includes prominent brands such as Mead Johnson online communication, Nippon Paint Olympics campaign, Nissan CRM solutions and Intel viral video campaign. Pully Chau, CEO of Saatchi & Saatchi China, will chair this new structure, and Ken Ying, currently CEO of Energy Source has been appointed as vice-Chairman. Anthony Yang, from Saatchi & Saatchi, previously the Head of Interactive, will be the General Manager and lead the joint venture.
China has one of the most dynamic advertising markets in the world. According to ZenithOptimedia forecasts, the total China advertising industry is anticipated to grow 25%, reaching USD 29 billion in 2008. Online advertising is the fastest-growing medium (currently accounting for 7% of the market and estimated at over USD 2 billion for 2008). The Beijing Olympics in 2008 and Shanghai World Expo in 2010 are likely to further stimulate high demand for advertising. Although the agreement with Energy Source is a joint venture and not an acquisition, it clearly demonstrates Publicis Groupe's determination to strengthen its presence in this promising market. This move follows Publicis Groupe's acquisition of Betterway Marketing Solutions and Emotion events management group in 2006, Yong Yang and CCG in 2007, and, most recently, EmporioAsia in 2008. The Groupe is present through all of its global networks and brands and has over 3,000 employees in China.
"This is a revolutionary partnership of two very strong ideas companies united by the dream of transforming China's digital landscape. Although Saatchi & Saatchi and Energy Source come from very different backgrounds with different credentials, we share a common commitment and determination to provide best-in-class services to our clients. Our respective competencies complement each other perfectly. This move will elevate the standard of integrated interactive solutions and bring us powerful growth opportunities," said Pully Chau, CEO of Saatchi & Saatchi China.
"Marketing today is all about being innovative, integrated and interactive. In order to benefit from this new marketing solutions model, companies need to find new ways of cooperating and collaborating. This joint venture is a decisive step for us at Energy Source," exclaimed Ken Ying, CEO of Energy Source Integrated Interactive Solutions. "We are thrilled to be teaming up with the talent at Saatchi & Saatchi, and to tap into the international scale of Publicis Groupe. There is no limit to the positive synergies we will generate."
Energy Source Group is a leading digital marketing consulting company in China. ES helps clients to strengthen their core competitive capability through repositioning their business module through innovative operations. Since its establishment in 2001, Energy Source has executed over 700 successful cases for more than 120 international and local clients, with an annual turnover of 29 million US dollars. 240 employees from 20 different fields are employed by ES to pursue the same dream - build the standard in interactive industry. Energy Source stands firmly in the China market through its own perspective towards the challenging world. The company has a strong client network along with a high satisfaction rate. Abundant local experience and international strategic partners has enabled Energy Source to become a leader in the industry.
Web Site: http://www.energysource-cn.com Publicis Groupe is the world's fourth largest communications group. In addition, it is ranked as the world's second largest media counsel and buying group, and is a global leader in digital and healthcare communications . With activities spanning 104 countries on five continents, the Groupe employs approximately 44,000 professionals. The Groupe offers local and international clients a complete range of communication services, through three autonomous global advertising networks, Leo Burnett, Publicis, Saatchi & Saatchi and two multi-hub networks, Fallon and 49%-owned Bartle Bogle Hegarty; to media consultancy and buying, through two worldwide networks, Starcom MediaVest Group and ZenithOptimedia; interactive and digital marketing led by Digitas; Specialized Agencies and Marketing Services offering healthcare communications, corporate and financial communications, sustainability communications, shopper marketing, public relations, CRM and direct marketing, event and sports marketing, and multicultural communications.
Web Site: http://www.publicisgroupe.com
SOURCE Publicis Groupe
Copyright (C) 2008 PR Newswire. All rights reserved
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