Economist Mike Brandl explains how some measures of the economy can signal a coming change, and others take a while to catch up to the big picture.
Links:
[1] http://www.texasenterprise.utexas.edu/sites/texasenterprise.utexas.edu/files/lingo_leading_lagging.png
[2] http://www.texasenterprise.utexas.edu/topics/economy
[3] http://www.texasenterprise.utexas.edu/topics/recession