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Glossary

 
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NAPM - Milwaukee
NAPM index. A measure of the health of the manufacturing sector, and more generally the overall economy, calculated by surveying purchasing managers for data about new orders, production, employment, deliveries, and inventory, in descending order of importance. It is based on a survey of over 250 companies within twenty-one industries covering all 50 states, and it is released on the first business day of the month at 10 am EST and reflects the previous month's data. A reading over 50% indicates that manufacturing is growing, while a reading below 50% means it is shrinking. The NAPM index is also thought to be an early indicator of inflationary pressures.

Nasdaq
National Association of Securities Dealers Automated Quotations. A computerized system that facilitates trading and provides price quotations on more than 5,000 of the more actively traded over the counter stocks. Created in 1971, the Nasdaq was the world's first electronic stock market.

National Association of Home Builders (NAHB)
The National Association of Home Builders (NAHB) is one of the largest trade associations in the United States. Headquartered in Washington, D.C., NAHB's mission is "to enhance the climate for housing and the building industry. Chief among NAHB's goals is providing and expanding opportunities for all consumers to have safe, decent and affordable housing".

National Federation of Independent Business (NFIB)
The National Federation of Independent Business (NFIB) is a lobbying organization with its headquarters in Nashville, Tennessee and offices in Washington, D.C. USA, and in all 50 state capitals. NFIB's lobbying efforts are focused on the impact of current and proposed legislation on businesses (primarily small businesses) and professional practices at all levels of government, but primarily at the federal and state levels.

Neel Kashkari
Neel Kashkari took office as President and chief executive officer of the Federal Reserve Bank of Minneapolis on Jan. 1, 2016. From 2006 to 2009, Kashkari served in several senior positions at the U.S. Department of the Treasury. In 2008, he was confirmed as assistant secretary of the Treasury. In this role, he oversaw the Troubled Assets Relief Program (TARP) during the financial crisis. Kashkari received the Alexander Hamilton Award, the Treasury Department's highest honor for distinguished service.

Net
A measure of a company's investment in capital, found by subtracting non-cash depreciation from capital expenditures. This measure helps to give a sense of how much money a company is spending on capital items (such as property, plants and equipment), which are used for operations.

Net Long-term TIC
The sum of gross purchases by foreigners from US residents minus gross sales by foreigners to US residents. The components used to calculate long term flows are US Treasury bonds and notes, US government agency bonds, US corporate bonds, US corporate stocks, foreign bonds and foreign stocks. (TIC signifies: Treasury International Capital Flows)

Nikkei
Short for Japan's Nikkei 225 Stock Average, the leading and most-respected index of Japanese stocks. It is a price-weighted index comprised of Japan's top 225 blue-chip companies on the Tokyo Stock Exchange. The Nikkei is equivalent to the Dow Jones Industrial Average Index in the U.S. In fact, it was called the Nikkei Dow Jones Stock Average from 1975 to 1985.

Non-warrantable Condominium
A non-warrantable condominium is a condominium property which is not eligible for financing using a Freddie Mac or Fannie Mae loan for reasons such as increased percentage of ownership by a developer, higher percentage of tenancy, outstanding litigations, etc.

Nonfarm Payrolls
A statistic researched, recorded and reported by the U.S. Bureau of Labor Statistics intended to represent the total number of paid U.S. workers of any business, excluding the following employees: - general government employees - private household employees - employees of nonprofit organizations that provide assistance to individuals - farm employees This monthly report also includes estimates on the average work week and the average weekly earnings of all non-farm employees.

Nonfarm Productivity
Output per hour of all persons in the non-farm business sector. Percent change compounded at annual rate from the original data rather than index numbers. All productivity and cost data was revised in February 2004 as the BLS switched from the Standard Industrial Classification (SIC) system to the North American Industry Classification System (NAICS).

 
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