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Since the spread of globalisation, it has become even more essential in business today to have a thorough understanding of economic information: to be able to grasp fully the real implications of the economic indicators referred to in business reports and by the media. Written for the nonspecialist, this highly accessible guide explains how to understand and interpret all the main economic indicators.
Guide to Economic Indicators is above all a practical work that clearly explains the underlying economic realities of today's world. Fully updated and revised, this sixth edition is an invaluable reference for those in business, the financial markets, or government, and a necessary resource for students.
Now in its sixth edition, this fully updated and revised guide provides the keys to understanding all the major and many lessor economic indicators: what they are, what areas they cover, their reliability, and how to interpret them.
2 Essential mechanics.
3 Measuring economic activity.
Output, expenditure and income.
Putting it in context.
4 Growth: trends and cycles.
GDP per head.
Cyclical or leading indicators.
5 Population, employment and unemployment.
Labour or workforce.
Unemployment and vacancies.
6 Fiscal indicators.
Budget balance, deficit, surplus.
National debt; government or public debt.
Personal income, disposable income.
Consumer and personal expenditure, private consumption.
Personal and household savings; savings ratio.
8 Investment and savings.
Fixed investment and GDFCF.
National savings, savings ratio.
9 Industry and commerce.
Business conditions; indices and surveys.
Industrial and manufacturing production.
Capacity use and utilisation.
Construction orders and output.
Housing starts, completions and sales.
Wholesale sales or turnover, orders and stocks.
Retail sales or turnover, orders and stocks.
10 The balance of payments.
Imports of goods and services.
Exports of goods and services.
Trade balance, merchandise trade balance.
Capital- and financial-account flows.
International investment position (IIP).
External debt, net foreign assets.
11 Exchange rates.
Nominal exchange rates.
Special drawing rights (SDRs).
EMU, ecu, ERM and euro.
Effective exchange rates.
Real exchange rates; competitiveness.
Terms of trade.
12 Money and financial markets.
Money supply, money stock, M0 ... M5, liquidity.
Bank lending, advances, credit, consumer credit.
Central bank policy rates.
Interest rates; short-term and money-market rates.
Yield curves, gaps and ratios.
Real interest rates and yields.
Share prices and yields.
13 Prices and wages.
Commodity price indices.
Export and import prices; unit values.
Producer and wholesale prices.
Surveys of price expectations.
Wages, earnings and labour costs.
Unit labour costs.
Consumer or retail prices.
Consumer or private expenditure deflators.