Ryan Bridge: The numbers that tell us where we're heading
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There's a reason we talk a lot on this programme about bond markets, growth, central bank decisions and wars in far-away places.
There was, and probably still is, a school of thought that people either don't want, or don't understand, financial markets, currencies and economics.
I've always thought this was BS. It's why we focus on them a lot. They're important because they tell a story about where we've been and, more importantly, what's next.
People aren't stupid. Most of the correspondence, emails and letters I get are from people far smarter than me.
Though, that's not really saying much. More about me!
This week we're getting GDP for Q2. It'll show we've gone sideways to slightly forwards, if you listen to the bank economists.
Which is better than backwards, which is where they were picking we would go a few months ago.
This is StatsNZ data and is, of course, itself backwards-looking.
It'll show us where we've been.
For a look at where we're going, we had the PMI, that's the manufacturing index out Friday.
It was off slightly July-August, but still in expansion. And still above the long-term average.
What's more, it tells us that forward orders are looking good.
It bodes well for Q3.
As always, there's a reason to talk about the numbers. Not just the ones we'll hear about this week.
But the ones which give us clues about where we're heading next.
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