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The 8th edition Guide to Everyday Economic Statistics is a handy resource for understanding common everyday economic statistics and their historical context. The authors examine how different series are constructed, how they can be interpreted, and how we may use them effectively. Students of all levels will find this guide easy to read and helpful in understanding how individual statistics relate to the economy as a whole.
Brief Table of Contents:
Chapter 1: Introduction
Chapter 2: Total Output and Income
Chapter 3: Production and Growth
Chapter 4: Investment and Capital Expenditures
Chapter 5: Employment and Unemployment
Chapter 6: Spending, Profits, and Expectations
Chapter 7: Prices, Money, and Interest Rates
Chapter 8: Stock Prices and International Trade
Appendix: Chain Weighting
Index
How the Statistics in This Book Were Chosen 1
A Frame of Reference 2
The Many Faces of Economic Statistics 5
Abusing Economic Statistics 7
Using Economic Statistics 9
And Beware of Forecasts! 10
A Final Word 12
CHAPTER 2: TOTAL OUTPUT and INPUT
Gross Domestic Product 13
Recession vs. Depression 23
The NIPAs 27
Personal Income 30
CHAPTER 3: PRODUCTION and GROWTH
Purchasing Managers' Index 35
Index of Industrial Production 39
Capacity Utilization 43
Labor Productivity 46
Leading Economic Index 50
CHAPTER 4: INVESTMENT and CAPITAL EXPENDITURES
Gross Private Domestic Investment 57
New Building Permits and Housing Starts 62
Business Inventories 66
Inventory/Sales Ratio 70
Durable Goods Orders 72
CHAPTER 5: EMPLOYMENT and UNEMPLOYMENT
Total Employment 75
New Jobs Created 78
Unemployment Rate 81
Help-Wanted Advertising 87
New Jobless Claims 90
CHAPTER 6: SPENDING, PROFITS, and EXPECTATIONS
Consumer Spending 93
Retail and E-Commerce Sales 96
Wholesale Sales 99
Consumer Expectations and Confidence 101
Employment Cost Index 104
Corporate Profits 106
Beige Book 108
CHAPTER 7: PRICES, MONEY, and INTEREST RATES
Consumer Price Index 113
Producer Price Index 120
Money Supply 123
Fed Funds Rate 126
Primary Credit Rate 129
Treasury Bill Rate 132
Prime Rate 134
The LIBOR 137
CHAPTER 8: STOCK PRICES and INTERNATIONAL TRADE
The Dow Jones Industrial Average 141
The Standard & Poor's 500 146
The Russell 3000 Index 149
The Wilshire 5000 152
The NASDAQ Composite 155
The Balance of Trade 158
International Value of the Dollar 162
Foreign Exchange 166
APPENDIX: CHAIN WEIGHTING 169
INDEX: 173
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