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Leading indicators: another V-sign

As I said before when I posted this chart back in September, I don't pay much attention to the "leading economic indicators." They don't really lead, and they can sometimes be "mis-leading." But they can be very good coincident indicators, and they appear to have done a good job of calling the end of the recession back in mid-2009. They've turned up quite sharply over the second half of 2009, and are exhibiting the classic signs of the beginning of a new business cycle. I don't see any signs that would suggest this recovery is at risk anytime soon.

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