Here are some great websites analysts can use to pick up quick information on the economy. This also may be very useful for beginning investors who are trying to do research on the health of the economy.
Bloomberg Economic Calendar – This site is essential for the beginning investor. The calendar shows daily event or report releases, its level of importance to financial markets, and a thorough definition and explanation of each release. This is the ultimate guide for an analyst that wants to learn about indicators.
Federal Reserve Economic Data (FRED) – FRED is an online database compiled by the Federal Reserve Bank of St. Louis. The database includes 154,00 economic data times series from 59 national, international, public, and private sources. There are a lot of incredible tools on this website. Some of the most useful features include interactive maps of the US (like heat mapping unemployment, and.. well… pretty much anything) and easy to build charts that allow you to overlap economic. indicators over time.
Board of Governors of the Federal Reserve System – Federal Open Market Committee (FOMC) – This website will teach you everything you need to know about the Federal Reserve Board, the FOMC, and monetary policy. At the website you can find recent FOMC minutes and statements, along with a calendar of upcoming meetings.
Calculated Risk Blog – This is the one stop shop for everything housing. Needless to say, Bill McBride is an expert and he provides powerful insights into one of the most important sectors of the economy.
Bureau of Labor and Statistics (BLS) – The BLS, as you may gather from the name, provides data on the US labor market. But the site also provides economic news releases on major economic indicators. Its major sections include inflation and prices, pay and benefits, spending and time use, unemployment/employment, workplace injuries, productivity, and international
Congressional Budget Office (CBO) – The CBO provides independent analyses of budgetary and economic issues to support the Congressional budget process. The CBO’s most well known products include baseline budget projections and economic forecasts, analysis of the President’s budget/budget options, long-term budget projections, and cost estimates. The CBO’s long-term budget projections are helpful for analysts in that they provide long-term GDP growth rates and other data that may be helpful using in financial or economic models.