Home > Store

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

Register your product to gain access to bonus material or receive a coupon.

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

Premium Website

  • Sorry, this book is no longer in print.
Not for Sale



Baumohl makes what you expect to be a boring topic an interesting, entertaining and informative read.

  • From an award-winning journalist and former TIME Magazine chief economics reporter.
  • How key indicators impact interest rates, bond prices, stock prices, the value of the dollar.
  • Unemployment, inflation, consumer confidence, retail sales, and beyond... which indicators really matter, and what do they predict?


  • Copyright 2005
  • Edition: 1st
  • Premium Website
  • ISBN-10: 0-13-145501-X
  • ISBN-13: 978-0-13-145501-6

Every day, stocks, bonds, and currencies bounce wildly in response to new economic indicators. Money managers obsess over those statistics, because they provide crucial clues about the future of the economy and the financial markets.

Now you can use these indicators to make smarter investment decisions, just like the professionals do.You don't need an economics degree, or a CPA... just this easy-to-use book.

Former TIME Magazine senior economics reporter Bernard Baumohl has done the impossible: he's made economic indicators fascinating.

Using real-world examples and stories,Baumohl illuminates every U.S. and foreign indicator that matters.Where to find them.What they look like. What the insiders know about their track records. And exactly how to interpret them.

Whether you're an investor,broker, portfolio manager, researcher, journalist,or student, you'll find this book indispensable.Nobody can predict the future with certainty. But The Secrets of Economic Indicators will get you as close as humanly possible.

What the numbers really mean...

...to stocks, bonds, rates, currencies, and you

Ahead of the curve: spotting turning points

Calling recessions and recoveries in time to profit from them

Leading indicators: where's the economy really heading

Decoding initial unemployment claims, housing starts, the yield curve, and other predictors

Beyond the borders

Why foreign indicators are increasingly important—and how to use them

Making sense of indicators in conflict

What to do when the numbers disagree

Finding the data

Free web resources for the latest economic data


"This is the most up-to-date guide to economic indicators and their importance to financial markets in print. 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. 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

"Every business person or investor should keep a copy of Baumohl's book close-at-hand. 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, Chief Investment Officer, First Albany

"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."

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. 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 Administration, Harvard Business School

The fascinating, plain-English guide to economic indicators: what they mean, and how to use them.

Unemployment. Inflation. Consumer confidence. Retail sales... Every morning brings new economic statistics.

  • Which economic indicators really matter?
  • What do they mean for stocks, bonds, interest rates, currencies...your portfolio?
  • How can you use them to make faster, smarter investment decisions?
  • Simple, clear, non-technical, friendly, usable...the only book of its kind!
  • By former renowned TIME Magazine economics journalist Bernard Baumohl.

© Copyright Pearson Education. All rights reserved.

Sample Content

Online Sample Chapters

A Beginner's Guide: Understanding the Lingo

Economic Talking Points --- Outlook for 2006

Secrets of Economic Indicators: The Lock-Up

The Lock-Up

Understanding the Lingo of Economic Indicators

Downloadable Sample Chapter

Untitled Document Download the Sample Chapter 1 related to this title.

Download the Sample Chapter 2 related to this title.

Sample Pages

Download the sample pages (includes Chapters 1 & 2 and Index)

Table of Contents



1. The Lock-Up. 

    U.S. Economic Indicators. 

    International Economic Indicators. 

2. A Beginner’s Guide: Understanding the Lingo. 


    Annual Rates. 

    Business Cycle. 

    Consensus Surveys.

    Moving Average. 

    Nominal Dollars Versus Real Dollars (Also Known as Current Dollars Versus Constant Dollars). 

    Revisions and Benchmarks.

    Seasonal Adjustments. 

3. The Most Influential U.S. Economic Indicators. 


      Employment Situation. 

      Weekly Claims for Unemployment Insurance. 

      Help-Wanted Advertising Index. 

      Corporate Layoff Announcements. 

      Mass Layoff Statistics (MLS). 

    Consumer Spending and Confidence.

      Personal Income and Spending. 

      Retail Sales. 

      E-Commerce Retail Sales. 

      Weekly Chain Store Sales. 

      Consumer Credit Outstanding. 

      Cambridge Consumer Credit Index. 

      Consumer Confidence Index (Conference Board).

      Survey of Consumer Sentiment (University of Michigan). 

      ABC News/Money Magazine Consumer Comfort Index.

      UBS Index of Investor Optimism. 

    National Output and Inventories.

      Gross Domestic Product (GDP). 

      Durable Goods Orders. 

      Factory Orders. 

      Business Inventories. 

      Industrial Production and Capacity Utilization. 

      Institute for Supply Management (ISM) Manufacturing Survey.

      Institute for Supply Management (ISM) Non-Manufacturing Business Survey. 

      Chicago Purchasing Managers Index (Business Barometer).

      Index of Leading Economic Indicators (LEI). 

    Housing and Construction.

      Housing Starts and Building Permits. 

      Existing Home Sales. 

      New Home Sales. 

      Housing Market Index: National Association of Home Builders (NAHB). 

      Weekly Mortgage Applications Survey and the National Delinquency Survey. 

      Construction Spending.

    Regional Federal Reserve Bank Surveys.

      Regional Federal Reserve Bank Reports. 

      Federal Reserve Bank of New York: Empire State Manufacturing Survey. 

      Federal Reserve Bank of Philadelphia: Business Outlook Survey. 

      Federal Reserve Bank of Kansas City: Manufacturing Survey of the 10th District. 

      Federal Reserve Bank of Richmond: Manufacturing Activity for the Fifth District. 

      Federal Reserve Bank of Chicago: National Activity Index (CFNAI). 

      The Federal Reserve Board’s Beige Book.

    Foreign Trade.

      International Trade in Goods and Services. 

      Current Account Balance (Summary of International Transactions).

    Prices, Productivity, and Wages.

      Consumer Price Index (CPI). 

      Producer Price Index (PPI). 

      Employment Cost Index.

      Import and Export Prices. 

      Productivity and Costs. 

      Employer Costs for Employee Compensation. 

      Real Earnings. 

      Yield Curve. 

4. International Economic Indicators: Why Are They So Important? 

    German Industrial Production.

    German IFO Business Survey. 

    German Consumer Price Index (CPI).

    Japan’s Tankan Survey. 

    Japan Industrial Production.  

    France Monthly Business Survey (INSEE). 

    Eurozone–Manufacturing Purchasing Managers Index (PMI). 

    Global–Manufacturing Purchasing Managers Index. 

    OECD Composite Leading Indicators (CLI). 

    China Industrial Production. 

    Brazil Industrial Production. 

5. Best Web Sites for U.S. Economic Indicators.

    Schedule of Releases. 

    Economic News. 

    The U.S. Economy. 

    Consumer Behavior. 

    Employment Conditions. 

    Home Sales and Construction Activity.

    International Trade. 

    Inflation Pressures. 

    Federal Reserve Surveys. 

    The Federal Budget. 

    Interest Rates. 

    Money and Credit. 

    U.S. Dollar. 

    One-Stop Shopping for Economic Statistics. 

    Other Useful Sources on the Web. 

6. Best Web Sites for International Economic Indicators. 

    Calendar of Releases for Foreign Economic Data. 

    Sources of Global Economic News. 

    Economic Statistics from Other Countries. 

    Best Megasites for International Economic Statistics. 



Untitled Document Download the Preface file related to this title.


Untitled Document Download the Index file related to this title.


Submit Errata

More Information

InformIT Promotional Mailings & Special Offers

I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.


Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information

To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.


Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.


If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information

Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.


Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.


This site is not directed to children under the age of 13.


Pearson may send or direct marketing communications to users, provided that

  • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
  • Such marketing is consistent with applicable law and Pearson's legal obligations.
  • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
  • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information

If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.


Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information

Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents

California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure

Pearson may disclose personal information, as follows:

  • As required by law.
  • With the consent of the individual (or their parent, if the individual is a minor)
  • In response to a subpoena, court order or legal process, to the extent permitted or required by law
  • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
  • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
  • To investigate or address actual or suspected fraud or other illegal activities
  • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
  • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
  • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.


This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact

Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice

We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020