Statistics do not usually top one's list for dynamic reading material, but Bernard Baumohl seeks to challenge that perception in his book.
Baumohl, an economist and financial journalist, whose experience has included time as an analyst at the European American Bank and at the Council on Foreign Relations, illustrates how economic indicators have an impact on our lives. Whether a key indicator goes up or down can influence a series of reactions in the markets including gas pump prices, performance of our 401K, and whether we still have a job.
For the first time, thanks to the Internet, the general public now has easy access to all these numbers, and Baumohl wants to be our guide to the statistics that matter. So here you will find clear descriptions of each well-known indicator, from gross domestic product to housing starts, along with interpretations of what the indicators really mean.
And you'll also read about foreign figures such as those tracking China's industrial production. The U.S. is the largest producer of economic statistical data, but a review of international indicators is necessary as well, says Baumohl. "Nearly half the earnings of the S&P 500 firms come from business generated outside the U.S. More than 22 million American workers—nearly two in ten jobs—are linked to foreign trade. One out of every four dollars generated in the U.S. economy is based on trade. What this all boils down to is that foreign economic indicators should be followed with the same regularity, interest, and scrutiny as the domestic indicators."
The book also includes a comprehensive list of mostly free Web sites where one can drill down on economic indicators cited in the book. Good reading for investors, financial pros, researchers, and journalists. —Ann Cullen
Table of Contents:
- Introduction
- A Beginner's Guide: Understanding the Lingo
- The Most Influential U.S. Economic Indicators
- The Ten Hottest International Economic Indicators
- The Internet - Best Web Sites for U.S. Economic Indicators
- The Internet - Best Web Sites for International Economic Indicators