Handbook of Key Economic Indicators

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Summary: Understand Key Economic News and Its Impact on the Market
Review: Each week, regularly scheduled nonfinancial economic indicators--inflation, manufacturing starts, gross domestic product, and others--create sizable and predictable market moves when they are released by U.S. government agencies. Since its release in 1994, "Handbook of Key Economic Indicators" has become the trader's and investor's guidebook for interpreting these releases and correctly predicting their financial impact.

Now the second edition of this best-selling classic discusses the many changes that have occurred since its first release, both in key economic data and how they can be interpreted and utilized. New discussions in the second edition include:

- Further evaluation of changes in household employment data based on recent revisions

- The switch in real GDP to a chained dollar basis from constant dollar

- 1998 revisions to CPI data--and further changes that are right around the corner

- The "Boskin Report" on the CPI

- Revisions to the composite indicators that were part of their hand-over to the Conference Board by the Department of Commerce

- New sections for initial unemployment claims, productivity and unit labor costs, and employment cost indexes

Thoroughly updated and revised, "Handbook of Key Economic Indicators, Second Edition," remains the standard reference for market analysts and investors who need not only knowledge and experience about the numbers behind these important reports but also an intuitive understanding of how the markets will react.

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Summary: A comprehensive, insightful look at key economic indicators
Review: R. Mark Rogers has written a comprehensive, thorough overview of the key U.S. economic indicators. His book would be particularly useful for analysts new to the business, or to seasoned analysts who need to know more about the nitty gritty behind the numbers. Rogers' handbook is filled with more technical information that some people will ever need, and some will find the level of detail intimidating and somewhat cumbersome. However, the compilation of all this information in one source is extremely valuable, and is particularly useful for those who want a deeper understanding of what the economic data say. The level of technical sophistication is what sets this book apart from others. For those who want to understand more about U.S. economic data than the sound bytes on the news or the quotes in the paper provide, this is the book to read.

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Summary: Essential for market analysts and conscientious researchers!
Review: The Handbook of Key Economic Indicators clearly stands head and shoulders above competing texts in its depth. The first thing I like about this book is that it provides detailed information on important data series and is an invaluable resource to those tracking the nearly daily release of non-financial data. In addition to providing the necessary methodological background for each indicator, the work explains how to interpret each indicator and specifically suggests what to look for when analyzing data reports. I also found that the explanations of the numerous potential sources of monthly volatility are extremely useful- the explanations are clear indications of the author's extensive experience with the data. I was glad to see the Handbook isn't just a rehash of the first edition--it is very current and includes important new sections on the 1996 Boskin Report, the 1998 revisions to CPI (including the impact on inflation growth rates), and the switch in real GDP to a chained dollar basis and how one works with the new data. What I like about this book is that it not only covers the basics in news release interpretation that market analysts want but also that it is an excellent reference for researchers who need a thorough understanding of the major non-financial economic indicators. What sets this work apart is that it has the depth and coverage of methodologies and special topics that similar texts do not have. For the analyst or researcher working with these complicated and often misunderstood data series, I would highly recommend this book!

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Summary: Very careful and detailed book
Review: This book is great. It tells you exactly what the various economic series are, and how they are constructed - down to the fine gory details. I suspect this is the best such reference book available. If the author could produce an updated 3rd edition I would buy it immediately.

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Summary: Comprehensive, very technical, but NOT user friendly.
Review: This work is highly technical. It provides the genesis and sources for all the leading U.S. economic indicators. A dweeb's delight - however it lacks meaningful illustrations. A few charts were provided, but - like the dismal science, the actual text, tables, and raw data are dull, drab, and unimaginative. For my money, a far more "user-friendly" overview is necessary. This book needs some meaningful graphs, colorful illustrations, and an anectode or two. It could have been made far simpler, and easier to understand. As is, the book has only limited value - especially to the investing public. It's a shame the author went to all that work compiling a bunch of data, but, like most dweeb economists, he doesn't effectively communicate.