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The Trader's Guide to Key Economic Indicators

By: Richard Yamarone
Binding: Hardcover
Publisher: Kogan Page
ISBN: 1576603016
ISBN-13: 9781576603017
Released: 03 Feb 2008
RRP: £17.95
Average Rating:

Customer Reviews

Superb Overview of Major Economic Indicators for Traders - By: Donald Mitchell, 23 Jun 2004
Even if you once knew alll the ways that economic indicators are defined, data collected & reported, chances are that alll of this has changed (unless your knowledge is less than 2 years old). In addition, the best way to use these indicators is constantly changing as new analytical tests are developed & back-checked. So if you are the chief economist for a Walll Street investment bank or brokerage firm, you probably don't need this book. But if you hold stock & bonds in the United States less often than 10 years, you can profit from this book.

Each chapter provides a delightful history of how a relevant indicator was developed, how the measurements are made now, how to apply the indicator for stock & bond investing & the latest technique for getting an "edge" on just looking at the indicator alone. The material is written in the kind of simple language that almost anyone can easily understand. The math is simple, too. If you can do arithmetic, you can understand this book.

There are individual chapters GDP; leading, lagging & coincident indicators; employment; industrial production & capacity utilization; indices from the Institute for Supply Management; manufacturers' shipments, inventories & orders; manufacturing, trade inventories & sales; new residential construction; consumer confidence & sentiment; advance monthly sale for retail trade & food services; personal income & outlays; & the consumer & producer price indices. Each discussion looks at how these data help you understand the future business cycle, interest rates, corporate profits & Federal Reserve actions.

I thought that the graphs were one of the best parts of the book. You can judge for yourself how powerful the relationships are that Mr. Yamarone outlines.

As I finished this book, I realized how nice it would be to have similar books for consumer decisions (like when to refinance your home, etc.) using the same kind of indicators in different ways.