Composite Index of Lagging Indicators

Composite Index of Lagging Indicators

An index tracking a number of economic indicators considered to be lagging. A lagging indicator is one that occurs after an economy has started moving in a particular direction. For example, a drop in the unemployment rate is considered a lagging indicator of recovery following a recession. Among the indicators used by the Composite Index of Lagging Indicators are the change in the inflation rate and the average length of time each person has held his/her current job. It is used to confirm whether a particular economic movement is sustainable.
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Since then, estimates of the ratio of total manufacturing and trade inventories to sales in constant (1982) dollars, which is a component of the composite index of lagging indicators, have been included monthly in the "Business Cycle Indicators" section of the Survey; these estimates were prepared by extrapolating the data from the September 1991 Survey by a preliminary 1987-dollar series.

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