The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities

by Bernard Baumohl

“This is the real deal. Baumohl miraculously breathes life into economic indicators and statistics.” – The Wall Street Journal “This is the most up-to-date guide to economic indicators and their importance to financial markets in print. The coverage of less-reported indicators, especially those from nongovernment sources, is hard to find elsewhere. The inclusion of the actual published tables helps the newer student of the markets find the data in the public release. For anyone trying to follow the economic data, this should be next to your computer so that you can understand and find the data on the Internet.” –David Wyss, Chief Economist, Standard and Poor’s “I find Baumohl’s writing fascinating. In addition to the famous indicators, he includes many that I hadn’t heard of. I really appreciate that he tells you exactly where to find each indicator on the Web. Just about anyone who’s serious about understanding which way the economy is headed will want to read this book. It could be a classic.” –Harry Domash, Columnist for MSN Money and Publisher, Winning Investing Newsletter “Bernie Baumohl has accomplished something of real value in The Secrets of Economic Indicators . He has successfully demystified the world of financial and economic news that bombards us in our daily lives. Both professional investors and casual observers of the world of finance and economics will be grateful for what he has done. The constant stream of heretofore bewildering news from the world of business and finance can now be easily understood. Every businessperson or investor should keep a copy of Baumohl’s book close at hand as he or she catches up on the business, stock market, and economic events of the day. It is great, at long last, to have someone who has eliminated what may have been so perplexing to so many and to have done so with such remarkable clarity.” –Hugh Johnson, Chairman and Chief Investment Officer of Johnson Illington Advisors “Bernie Baumohl has written a must-read educational and reference book that every individual investor will find indispensable for watching, monitoring, and interpreting the markets. The daily flow of high frequency economic indicators is the stuff that makes financial markets move and that can signal the big trends that make or break investor portfolios. Most important, Bernie’s long experience in reporting economics for Time Magazine helps make the ‘dismal science’ lively and interesting.” –Allen Sinai, President and Chief Global Economist, Decision Economics, Inc. “Baumohl has a gift for taking a complicated subject and allowing it to read like a fast-moving novel. My confidence in reading and understanding economic indicators as portrayed in this book made me realize the possibilities this information holds for improving my personal net worth as well as navigating my business toward higher profits. I recommend this book if you care about your future finances.” –Morris E. Lasky, CEO, Lodging Unlimited, Inc.; Manager and consultant for $6 billion in hotel assets; Chairman, Lodging Conference; Chairman, International Hotel Conference “I think this is an excellent book. It’s well written, accessible to a variety of readers, deals with an interesting and important subject, and covers the topic well. It deserves to get a lot of notice and use.” –D. Quinn Mills, Alfred J. Weatherhead, Jr., Professor of Business

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

401 pages, Paperback

First published January 1, 2004

Reviews

[Ridzwan · Rating 1 out of 5]

The title and presentation seems to promise much. One look at it will give you the impression that this is a title that provides a deeper level of analysis towards economic indicators that we read so much in today’s headlines.

Unfortunately the book serves to be nothing more than just a brochure of the various formal economic indicators and industry standards. Each indicator is introduced by just several lines of its origins and what it tracks. This includes the GDP, unemployment rates, manufacturing output figures and such.

Though whimsical details are given on how the particular indicator could be useful to equities, currencies and bonds, this will amount to nothing more than just half a page at the very most. It will be difficult to imagine how miniscule information such as these would serve to tell you “hidden clues to future economic trends”.

Would be useful for the beginner but holds nothing new for the seasoned investor.

[J Roberts · Rating 3 out of 5]

I read this stuff so you don't have to. Great reference materials and tools. Worth the price. As a book to read front to back like I did... you should pass. Just shoot me a question and I'll look it up for you.

[James · Rating 3 out of 5]

It's a brochure and reference book. Couldn't finish it.

[Sahan Malakar · Rating 5 out of 5]

I read the book. It's very useful, lots of informations. I congratulate the author to write such an awesome book.

[John · Rating 4 out of 5]

Good as a primer. Don't expect to really learn the hidden clues of investment opportunities. It's more like a primer book and reference book of all important and less important economic data. For each data it explains well what the data is, a brief history, some mechanism, meaning of numbers. It's a good starter book if you wonder what all the numbers in economic release mean. It's also a handy reference book to have in your shelves to look up to from time to time.

[Sylvester · Rating 3 out of 5]

This is a pretty good reference book on the various economic indicators one can use if you want to become an investor/trader, I really enjoyed the layout and the almost for-dummy style writing. However, the introduction was quite cringe worthy; it is also mainly focused on the United States context, which is not as useful if you are foreign.

[Mosaad M. Gamal · Rating 4 out of 5]

This is a reference book, that should be on your desk all the time
Reading it from cover to cover is ok but will not help.
If you follow certain economic indicators , it will be better and more beneficial to read the relevant title related to that economic Indicator just before or after the release.

[Ashfaque Reza · Rating 2 out of 5]

The title does't resemblance with the book. Pretty much disappointing.

[Jenny · Rating 3 out of 5]

The author tried so hard to make this topic interesting and readable... but there's only so many hundreds of pages you can read about economics before your brain implodes.

[Jabeen Hussain · Rating 5 out of 5]

excellent read

This book is very well written and is an excellent tool for learning about finance and what makes the financial markets move.

[Vera Wang · Rating 4 out of 5]

Good reference book

[Arktos · Rating 4 out of 5]

This is a comprehensive book that explains macroeconomic indicators, which ones markets react to, and why. Also provides useful guidance for researching economies outside of the U.S.

[Christian Robles · Rating 4 out of 5]

Treat this book as the definitive textbook for all your economic needs.

[Miguel De La Garza · Rating 1 out of 5]

To be used as a reference material - not remotely entertaining enough to be read from start to finish. Some references are a bit outdated.

[John Curtice · Rating 5 out of 5]

Very useful overview

[Manu Datta · Rating 2 out of 5]

Dull dry and boring. It’s an economic textbook arranged without any specific theme. Reports unrelated appear out of nowhere and scuttle your interest. The only thing is the key learning about which reports are to be more interestingly scrutinised. Also , US based and focussed.

[Justin Tapp · Rating 4 out of 5]

I read this book with the perspective of being in an office that does economic forecasting and pays for compilations of several of the indicators listed. I also have taught and used these indicators in undergraduate economics courses. Baumohl's value added is the research he's done on how each indicator is compiled and how it correlates with other indicators. For example: How many firms are surveyed, what questions are on the survey, what is the typical response rate, how does the indicator tend to correlate with future GDP growth (basic rules of thumb), what is the history of the survey, etc.? I've read books like Capital Ideas that give the history of the creation of the Dow, S&P, and other indicators we see on the nightly news, and this book is somewhat similar. If you've never been exposed to reports from the BLS, BEA, etc., this book is a tutorial on what's what.

The major indices are updated daily by Bill McBride at calculatedrisk.com (which I check first thing every morning), and he makes handy charts. But he focuses more heavily on real estate and does not cover dozens of indicators included in this book (some for good reason as some have minimal impact).

Here's how I recommend reading it: Make a spreadsheet with tabs for leading, coincident, and lagging economic indicators (I made an additional one for international). Add indicators to the sheet where appropriate, follow the links (or search to find the correct ones as my version of the book [2008] has several broken links) and start tracking the numbers as they update over time. This gives you a one-page snapshot of the trends of several indicators as opposed to just one at a time, as you generally get with the news. It's a bit like reading an encyclopedia, but is a reference that should be on the shelf of anyone interested in the economy. 4 stars out of 5.

[Vendimia · Rating 3 out of 5]

Despite the author's jokes, 'To make this work, a book on economic indicators has to be sexy. Edgy. Really funny.' This is not the type of book that you want to read cover to cover, unless of course you fantasize about John Galbraith and Milton Friedman in bikinis during your sleeping hours. This book should conjure up images of the Sahara for dryness.

That said, this is one awesome reference; listing out the various indicators, their sources and a dissection of their meaning and impact on the economy (think leading, lagging, etc.). Anyone interested in investing or understanding the truth of economics news in order to form an educated opinion (rather than the kindergarten level interpretation the network news throws at us with their requisite spin). This is a tool, and _should_ be a part of any masters level macro-economics class.
P-)

[May Ling · Rating 5 out of 5]

fantastic book for those that want to better understand the monthly numbers that come out, how important they are, and how to interpret them. Very well laid out book for people who want a quick reference.

[Imanz]

unemployment indices is the king!

[Michelle Greenwood · Rating 5 out of 5]

Clear and manageble. Plan to buy a book for desk top reference.

[Iris · Rating 5 out of 5]

Economy is not my strongest subject, but this book truly gave me a perspective.

[Mills College Library]

330.0112 B3488 2013

[Jameel Adeniji · Rating 3 out of 5]

secabis reprehendo.

[Mehul Barot · Rating 5 out of 5]

best

[Miguel L · Rating 3 out of 5]

A clutter-free way to brush up on economics. The book also offers good references / sources for data which you may find useful.

[Joonks · Rating 3 out of 5]

Works well as a reference text, covering both Breadth and Depth of all economic indicators that are pertinent.

[Evan · Rating 4 out of 5]

A clear must for any US economist. Great for any market participant.

[Wayne · Rating 5 out of 5]

I'll get back to you on this . . .

[NEWMARKJRESEARCH]

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