Here is a quick guide to the Major US Economic Reports we hear so much about. If you aren't aware of the basic functions and trends that these reports capture, and the impact on our overall economy, and real estate markets in general, you are doing yourself and your clients a disservice.
The full text can be found at https://personal.vanguard.com/VGApp/hnw/VanguardViewsArticle?ArticleJSP=/freshness/News_and_Views/news_ALL_econguide_ALL.jsp at the Vanguard.com web site.
I've listed each heading and an excerpt of the first sentence or so; but you need to read the full description by clicking on the above link.
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Guide to major U.S. economic reports
The following economic reports are covered by Economic Week in Review (listed alphabetically by title):
"Beige Book"
Source: Federal Reserve Board
Frequency: Eight times a year, prior to each of the scheduled monetary policy meetings of the Federal Open Market Committee
Description: A summary of economic conditions in each of the 12 Federal Reserve regional districts ...
Business Inventories
Source: Census Bureau of the Department of Commerce
Frequency: Monthly
Description: A report of the dollar value of product inventories held by manufacturers, wholesalers, and retailers....
Capacity Utilization Rate
See Industrial Production.
Construction Spending
Source: Census Bureau of the Department of Commerce
Frequency: Monthly
Description: A measure of the dollar value of new construction activity....
Consumer Confidence
Source: The Conference Board
Frequency: Monthly
Description: A gauge of consumers' attitudes about the present economic situation .....
Consumer Credit
Source: Federal Reserve Board
Frequency: Monthly
Description: A report of the dollar value of consumer debt, including categories such as credit card use and store charge accounts ....
Consumer Price Index (CPI)
Source: Bureau of Labor Statistics of the Department of Labor
Frequency: Monthly
Description: A widely followed indicator of inflation. The CPI is a measure of the average change over time in the prices paid by urban consumers for a fixed market basket of consumer goods and services....
Durable-Goods Orders
Source: Census Bureau of the Department of Commerce
Frequency: Monthly, with revisions
Description: A measure of the number of orders for a broad range of products-from computers and furniture to autos and defense aircraft-with an expected life of more than a year...
Employment Cost Index (ECI)
Source: Bureau of Labor Statistics of the Department of Labor
Frequency: Quarterly
Description: A measure of the change in the cost of labor. The ECI gauges changes in total employee-compensation costs (wages, salaries, and benefits) and is a key barometer of compensation trends and their impact on the cost of production.
Employment Situation
Source: Bureau of Labor Statistics of the Department of Labor
Frequency: Monthly, with revisions
Description: A report of the number of persons on nonfarm payrolls, the rate of unemployment, and workers' average hourly earnings. Considered a very timely and accurate reflection of labor market conditions.
Existing-Home Sales
Source: National Association of Realtors
Frequency: Monthly
Description: A report of the number of previously constructed homes with a closed sale during the month. Existing-home sales make up a larger share of the market than new-home sales and indicate housing market trends.
Factory Orders
Source: Census Bureau of the Department of Commerce
Frequency: Monthly
Description: A report of the dollar level of new orders for manufactured durable goods (products with an expected life of more than one year) and nondurable goods....
Federal Open Market Committee (FOMC) Meeting
Source: Federal Reserve Board
Frequency: Eight regularly scheduled meetings each year
Description: The 12-member FOMC meets to determine the near-term direction of monetary policy-in other words, to decide the level of short-term interest rates....
Gross Domestic Product (GDP)
Source: Bureau of Economic Analysis of the Department of Commerce
Frequency: Quarterly, with revisions
Description: A comprehensive scorecard of the country's economic health. GDP represents the total value of the country's production and consists of purchases of domestically produced goods and services by individuals, businesses, foreigners, and the government.
Industrial Production
Source: Federal Reserve Board
Frequency: Monthly, with revisions
Description: A measure of the changes in quantity of physical materials and items produced in the manufacturing, mining, and utilities industries....
Initial Jobless Claims
Source: Employment and Training Administration of the Department of Labor
Frequency: Weekly, with revisions
Description: A report of the number of individuals who filed for unemployment insurance for the first time the prior week....
International Trade
See U.S. Trade Balance.
ISM Index
Source: Institute for Supply Management
Frequency: Monthly
Description: An indicator of overall factory-sector trends....
ISM Non-Manufacturing Index
Source: Institute for Supply Management
Frequency: Monthly
Description: An indicator of overall service-sector trends.....
Leading Economic Indicators
Source: The Conference Board
Frequency: Monthly
Description: A composite index of ten economic indicators that typically lead overall economic activity....
New-Home Sales
Source: Census Bureau of the Department of Commerce
Frequency: Monthly
Description: A report of the number of newly constructed homes with a committed sale during the month. The level of new-home sales is an indicator of housing market trends.
New Residential Construction
Source: Co-release of the Department of Housing and Urban Development and the Census Bureau of the Department of Commerce
Frequency: Monthly
Description: A report of data on the construction of private residential structures, such as single-family homes and apartment buildings.....
Nonfarm Payrolls
See Employment Situation.
Nonfarm Productivity
Source: Bureau of Labor Statistics of the Department of Labor
Frequency: Quarterly, with revisions
Description: A measure of the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are considered indicators of future inflationary trends.
Personal Income; Personal Spending
Source: Bureau of Economic Analysis of the Department of Commerce
Frequency: Monthly, with revisions
Description: A report of the income that households receive from all sources, such as wages and salaries, employer contributions to pension plans, rental properties, and dividends and interest.....
Producer Price Index (PPI)
Source: Bureau of Labor Statistics of the Department of Labor
Frequency: Monthly, with revisions
Description: A measure of the average change over time in the selling prices of a fixed basket of goods by stage of production, industry, and commodity. It is considered a leading indicator for consumer inflation....
Productivity and Costs
See Nonfarm Productivity.
Retail Sales
Source: Census Bureau of the Department of Commerce
Frequency: Monthly, with revisions
Description: A report of the dollar value of sales of a broad range of goods, from cars and gasoline to furniture, food services, and clothing....
Unit Labor Costs
See Nonfarm Productivity.
Unemployment Rate
See Employment Situation.
U.S. Trade Balance
Source: Co-release of the Bureau of Economic Analysis and the Census Bureau of the Department of Commerce
Frequency: Monthly, with revisions
Description: A report of the difference between the dollar value of exports and imports. Foreign trade is an important component of aggregate economic activity, representing a significant portion of gross domestic product.....
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Jackie Crockett
Century 21 Distinctive
Fairfield, cA 94533
707-372-9168
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