What's Your Leading Indicator?
An article on Inc's website discusses a not-commonly-known leading indicator of economic growth. Brake pads. If you think about it, their logic, that more brake pads are sold as the economy increases is obvious: "When trucks are wearing down brake pads faster, it means the trucks are being driven more. More trucks on the road means more goods being sold.”
It got me to thinking about other not-commonly-known or less obvious leading indicators of an improving economy. Recruiters know that temporary staff are hired back first, and that permanent staff come after. Once companies start having more work to do, they need more staff, but the scars of an economic downturn remain, and they don't risk hiring permanently until they know it's going to last.
We have a wide variety of industries represented amongst our members and we'd like to you to share. What is the well-known or not so well known, leading indicator of an improving recovery in your industry? So far, we have brake pads and temporary staff. What can you add?
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Men's Underwear
Years ago, in grad school, studying market forecasting, my Econometrics prof said he thought the sales of men's underwear was a good leading indicator for the whole economy. In bad times men just hang on to old drawers a bit longer.
Re: leading indicators
I often assess my success as a manager against how many 'drive-by' visits I get from peers, leaders and individual contributors from other teams - especially if they are work-related or looking for advice.
http://www.managergrl.blogspot.com/
Thank you for your contributions!
@Wbentley That's an intriguing proposition! Thank you for sharing.
@Managergrl Great measure! Thank you.
Wendii