Leading Economic Indicators are forward-looking indicators and are generally compiled by a Survey. Some Indicators are specifically for the Consumer Sector. For example the CCI and others for the Industrial Sectors, the PPI.
The Leading Economic Indicators attempt to forecast any variable, either qualitative or quantitative, that could assist is forecasting a change or movement in a hard Economic Data series, such as GDP. Thus, the Leading Indicators can give an idea of the direction in another data series before the hard data is available. They are very much forward-looking and are generally compiled in a Survey Format, either directly or indirectly. The Key Leading Indicators deal with both the Consumer Sector and the Industrial Sector. For the Consumer this includes Consumer Confidence and Initial Jobless Claims and for the Industrial Sector this includes the Purchasing Managers’ Index, Durable Goods Orders and Average Hours Worked. The Stock Market watches the Leading Indicators very closely.
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