Читать книгу The Economic Indicator Handbook - Ричард Ямароне - Страница 11

The company is identified, as well as a description of the event type. Where applicable, the dial-in number is listed along with the necessary PIN code in the event that the listener would like to call in directly and ask questions.

The last five columns are functions that permit the user to read the associated press release (P), download a PDF file of the transcript of the entire conference call (T), read a transcript summary (S), listen to an audio file of the entire conference call (A), or sync the event to your calendar (C). These, of course, are all archived and available on an historical basis.

To be sure, not every call will generate insight to the goings on of the economy. But the wise desk economist should listen to (or read the transcripts of) the most economically sensitive companies that may be complaining of a high-interest-rate environment, stagnant spending by the consumer, or high input prices. Just about anything that can disrupt a company's performance will be mentioned in these calls. Many times, the comments made by executives on these calls forewarn changes in the economic data.

In Exhibit 1.5, it would be wise to listen to what Home Depot, Wal-Mart, and TJX Companies might have to say. The information contained in those calls might identify the underlying tone of the consumer. And since the consumer is responsible for a large portion of economic activity, the anecdotes can be invaluable to the forecasting process.

Having a treasury of economic data is essential for every economist or analyst. The Bloomberg Professional terminal provides a trove of economic and financial market data ranging from the common government reports and all the associated detail like GDP, consumption expenditures, the price indexes, and the confidence measures to the more obscure North American rail carloads of forest products. Just think of how valuable the latest data on industrial production of veneer, plywood, and engineered wood products, the retail price of carbonated drinks, or the number of persons employed in museums, historical sites, and parks can be to a housing, beverage, or not-for-profit industry analyst.