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General

Q.

With the tons of economic data readily available today, why should I pay for more?

A.

Data is not information for business decision making. Using the appropriate conceptual frameworks, ECON First clearly shows businesses the implications of the rapid changes in the economy and demographics of their primary market areas to their desired outcomes, including business expansion, diagnosing causes of lost sales, acquisitions and development, and keeping their business model current with emergent trends. The bottom line is the practical action recommendations for a business to reach its outcomes.


Q.

Can anyone really forecast accurately?

A.

Not beyond 18 to 24 months. ECON First uses a multitude of moving average indicators that allow economic conditions in various industries to be accurately anticipated for the coming 18 to 24 months. While ECON First does econometrics, it does not use econometric models in forecasting the U.S. and state economies due to the proven inability of such models to pick up turning points.

ECON First's primary emphasis is on identifying emerging economic, demographic and social trends that are substantially changing the market place today and for the immediate future.


Q.

What is  ECON First's consulting focus?

A.

ECON First maintains an extensive time series data base for multiple aspects of the economy and population. The basic spatial unit is the more than 3,000 counties in the nation. In consulting  ECON First works with the business client to identify the combination of counties that comprise the business' primary market area. The objective of the primary market area assessment is actionable recommendations that can immediately advanced the clients' desired outcomes.

SEE CONSULTING


Q.

How current is the data?

A.

Economic and demographic data are released on a monthly, quarterly and annual basis. Within days of the release of any relevant data, the data base is updated.  ECON First only uses reliable secondary data published by well recognized and credible sources such as the Bureau of Economic Analysis, the Bureau of Labor Statistics, and the Bureau of the Census. The other main input is the research published in professional journals.


Q.

How reliable is the data in ECON First reports?

A.

All economic data is survey based. This means that a margin of error exists around all the data. This is why ECON First relies upon moving averages and does not give much weight to the most recent monthly or quarterly values. The emphasis is on identifying clear trends.All data is from published and credible sources. No primary data is used unless requested by the client.


Q.

What if I don't understand something in the consulting report?

A.

All ECON First clients have email access to ECON First professional staff for questions and explanations.ECON First's "virtual economist" goal is one day turn around on inquiries.


Q.

What is included in a  Primary Market Area Assessment?

A.

The basic assessment includes an overview of the specific industry of the business, data on the industry's recent performance, the determinants of demand for the industry's goods or service...including spending by consumer characteristics,the industry outlook,and actionable recommendations for immediately realizing or enhancing cash flow. 


ECON First, LLC - 802 Dallam Road - Newark, DE 19711 - 302-650-4965