Indicators

Leading Indicators
Average weekly hours, manufacturing
Average weekly initial claims for unemployment insurance*
Manufacturers’ new orders, consumer goods and materials
Vendor performance, slower deliveries diffusion index
Manufacturers’ new orders, nondefense capital goods
Building permits, new private housing units
Stock prices, 500 common stocks
Money supply, M2 Interest rate spread, 10-year
Treasury bonds less Federal funds (%)/Interest rate spread. 10-year Treasury bonds less 90-day Treasury bonds
Index of consumer expectations

Coincident Indicators
Employees on nonagricultural payrolls
Personal income less transfer payments
Index of industrial production
Manufacturing and trade sales

Lagging Indicators
Average duration of unemployment*
Inventories to sales ratio, manufacturing and trade
Change in labor cost per unit of output, manufacturing (%)
Average prime rate charged by banks (%)
Commercial and industrial loans outstanding
Consumer installment credit outstanding to personal income ratio
Change in consumer price index for services (%)