The WSJ Guide to the 50 Economic Indicators That Really Matter: From Big Macs to "Zombie Banks," the Indicators Smart Investors Watch to Beat the Market

by Simon Constable, Robert E. Wright

With more than 80,000 copies sold worldwide in multiple languages, The Wall Street Journal Guide to the 50 Economic Indicators that Really Matter is a must-have guide for investors. WSJ columnist Simon Constable and respected financial historian Robert E. Wright offer valuable tips and insight to help investors forecast and exploit sea changes in the global macroeconomic climate. Unlike other investment handbooks, Constable and Wright's guide explores the not widely known economic indicators that the smartest investors watch closely in order to beat the stock market--from "Big Macs" to "Zombie Banks." Not only valuable and informative, The Wall Street Journal Guide to the 50 Economic Indicators that Really Matter is also wonderfully irreverent and endlessly entertaining, making it the most fun to read investors' guide on the market.

Genres: Finance, Economics, Business, Nonfiction, Money, Reference

281 pages, Paperback

First published May 3, 2011

About the author

Simon Constable | Author | Broadcaster | Journalist | Commentator | Speaker

His first book, "The WSJ Guide to the 50 Economic Indicators That Really Matter, which he co-authored with Robert E. Wright, was an economics category winner in the 2012 Small Business Book Awards at Small Business Trends.

His work can be found in The Wall Street Journal, Time Magazine, Barron's, Fortune, MarketWatch.com, TheStreet.com, the New York Post, the New York Sun, the South China Morning Post, and other distinguished publications.

He also has an extensive broadcasting background. For many years, he presented the Wall Street Journal's flagship daily TV show and frequently hosted the syndicated John Batchelor radio show in New York, the top-rated show on the largest radio station in the biggest market.

Reviews

[Chris G. Murphy · Rating 5 out of 5]

Good reference on key indicators to pay attention too as a intermediate to long term investor

Authors give a good introduction to various measures to pay attention to in each are of the GDP calculation. This is a good guide for the novice to intermediate investor that wants to learn more about what to look for and how to possibly use this information in your investment decisions. Should start you on the path to the "art" of forecasting and hopefully prevent being on the wrong side of the business cycle.

[Shawn · Rating 4 out of 5]

For those that follow Bureau of Labor Statics like folks follow sports, Constable's book is definitely a must-have. Bought it on my Kindle the very day Constable shamelessly hawked it on John Batchelor's radio show! Econometric reporting is a bit like medical diagnostics. For folks with diabetes, my doctor said the only part of the body where blood vessels can be observed for damage without the use of x-rays or MRIs was in the eyes. So now I understand why some market watchers are so interested in whether ships in the Baltic sea are weighed down or not and how much they charge. Constable does not really go into the controversy with some indicators (like how CPI does not include fuel and housing costs) but that's for a more detailed book. This guide is a quick read and explains the very basics on what market watchers use, for better or for worse. Best advice to non-investors in a down economy: PROCTOR AND GAMBLE. Because even the unemployed still use soap and toothpaste.

[Kursad Albayraktaroglu · Rating 4 out of 5]

I enjoyed reading this book which provides a clear explanation of the most common (and some uncommon) economic indicators that can be used to predict the state of the markets. The executive summary at the end of the sections of each indicator is very useful, and provides some guidance for trading strategies that could be built around the indicator.

While many of the indicators covered in the book are household names (PPI, yield curve, gold prices etc.), some of them were completely new (such as the "crack spread" - look it up) to me and helped me improve my understanding of various aspects of economic prediction. Highly recommended to anyone interested in the markets and investing.

[Linda · Rating 4 out of 5]

A useful list of what various economic indicators mean with an overview of why they mean that - and, not unsurprisingly, where to find them on the Wall Street Journal website. It isn't an in-depth analysis, but it is good information to be aware of.

[Basil Keilani · Rating 4 out of 5]

This is a book I need to read again. It helped me better understand what to look for when listening to the news when it comes to economics. I had somewhat of an idea, but I know a lot more about the subject. It's something I must re-read.

[Alexander · Rating 3 out of 5]

Really short, a little out dated on some of its indicators but has some that you wouldn't think of. At the end of every chapter it breaks up when, where, and what to do for each indicator.

[Colin hui · Rating 4 out of 5]

Insightful and a quick read

Insightful and structured in an easily readable format. However it is very USA centric. Overall, a very quick way to level up on economic indicators.

[Matt Robinson · Rating 4 out of 5]

Great reference to keep and reread yearly.

[Bulu Iraddim · Rating 3 out of 5]

As a primer for beginners in the fields of finance and economics, this book excels in both clarity and comprehensiveness.



One of the book's greatest strengths is its ability to break down complex economic concepts into digestible segments. Each chapter focuses on a specific economic indicator, explaining not only what it is and how it works, but also why it matters. From Gross Domestic Product (GDP) to the Consumer Price Index (CPI), the book covers a broad spectrum of indicators, making it a thorough reference guide for newcomers.



The authors have a knack for presenting information in a way that is both engaging and easy to understand. The language is straightforward, avoiding unnecessary jargon that often plagues financial literature. This approach makes the book particularly suited for those who are just starting to delve into the world of finance and economics. The inclusion of real-world examples helps to illustrate how these indicators play out in practice, further aiding comprehension.



The WSJ Guide is not just theoretical but also highly practical. It provides readers with insights into how to interpret data and understand economic reports. This practical approach helps readers to not only grasp the theoretical underpinnings of economic indicators but also to apply this knowledge in real-world situations, such as analyzing market trends or making informed investment decisions.



The book is well-structured, with each chapter standing alone while also contributing to a cohesive understanding of the broader economic landscape. This allows readers to either read it cover-to-cover or use it as a reference to dip into specific topics of interest. The summaries and key takeaways at the end of each chapter reinforce learning and make it easy to review the material.



Beyond just presenting facts, the authors encourage readers to think critically about the information. They highlight the interconnectedness of various indicators and the broader economic context, fostering a deeper understanding of how different factors influence one another.

[Matias Alanko · Rating 3 out of 5]

Good collection of some key economic indicators one will see in the news. Well-written and a quick read. As the book includes 50 indicators there are likely to be some new ones even for more experienced investors. The chapters on each indicator are short and concise, no fluff. However, the actions the authors suggest one to take on the basis of the indicators are blatantly obvious but macro calls are hard to get right in practise. The author's premise of the book's usefullness in portfolio management is therefore a bit misleading.

[Andreas Schmidt · Rating 3 out of 5]

Tutto sommato è piuttosto interessante, benché la maggior parte degli indici siano particolarmente soggettivi, forse i migliori sono il prezzo del rame e l'indice Aruoba Diebold Scotti sullo stato delle aziende, che da quello che vedo è riuscito a prevedere con un buon anticipo la situazione di marzo 2020.

[Arianna · Rating 2 out of 5]

I was required to read this book for one of my classes, but honestly, I would say save yourself the trouble and read the spark notes. The book itself doesn't offer anything groundbreaking, as all the economic factors discussed are already widely known. It's a clear reminder that there are no shortcuts or easy gains when it comes to tracking these factors.

[Mahdi Khalil Nejad · Rating 3 out of 5]

It's not terrible, albeit somewhat outdated. A synopsis appears at the end of each segment, allowing you to simply read it. If you're unable to discern how the indicator functions, you can read the entire chapter. Nonetheless, the chapters are quite brief.

[Bruce Callaway · Rating 5 out of 5]

Pivotal Data

This information pinpoints reports that can help you make valuable investments. It tells you why the reports are valuable, when they come out, etc.

[Hà Bùi · Rating 4 out of 5]

A list of economic indicators and summary of their meanings.
It's an useful list to help understand economic news.

[Reader · Rating 5 out of 5]

A great reference text.

[Bharath · Rating 3 out of 5]

It is a good book that gives a brief overview on each indicator listed in the book followed by some information about the same. A few indicators are rare ones but most of them are in fact followed by many not just smart investors. I like the book to some extent but the indicators briefed by the authors are like "hey here is an indicator, this is what it looks at, this is what an investor says about it and these are the brief points about the indicator".

[Vadim · Rating 3 out of 5]

Короткая и ясная книга для тех, кому хочется понимать рыночные индикаторы и принимать решения на их основе. Достоинствами книги является ясная структура (по разделу на каждый компонент ВВП), последовательный подход к описанию индикаторов и наличие неожиданных показателей (много красивых официанток в забегаловках -- не к добру). К сожалению, многие из 50 показателей не очень полезны для российских читателей.

[Filip Brajan · Rating 5 out of 5]

Must book for every investor or trader. When the news are published it will work as catalyst for the stock market, and you should be aware of what is CPI,PPI etc. As this is gonna highly influence you trading position.