Hypertext Glossary of
Business Cycle Indicators

For each indicator, we present a measure of importance, definition, related indicators, source, frequency, availability, direction relative to the business cycle (procyclical, counter-cyclical, acyclical), timing (coincident, lagging or leading indicator), volatility, likely impact on financial markets (bond prices, stock prices and the exchange rate), ability to affect markets, analysis of the indicator and links to WEB sources (data, charts, graphs and analysis of the indicator).

Gross Domestic Product (GDP)


(Fixed) Investment

Change in Inventories

Government Consumption

Net Exports

Price Deflators of GDP

Personal Savings Rate

Car Sales

National Association of Purchasing Managers

Employment - Payroll Jobs

Unemployment Rate

Average Hourly Earnings

Real Earnings

Initial Jobless Claims

Employment Cost Index (ECI)

Producer Price Index (PPI)

Retail Sales

Industrial Production

Capacity Utilization

Housing Starts (/Building Permits)

Consumer Price Index (CPI)

(Business) Productivity and Costs

Durable Goods Orders

Personal Income and Consumption Expenditures

Index of Leading Economic Indicators

Philadelphia Fed Survey

New Home Sales

Existing Home Sales

Housing Completions

Construction Spending

Factory Orders (and Manufacturing Inventories)

Business Inventories (and Sales)

International Trade (Exports, Imports, Trade Balance)

Import/Export Price Indexes

Current Account

Consumer Confidence

Consumer Credit

Beige Book Report

Monetary Aggregates

Wholesale Trade Sales

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