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The Leading Indicators publication
includes a composite leading indicator, similar to the national
index, for Ohio and the eight largest
Metropolitan Statistical Areas (MSAs)
.
United States data are also included.
- About Leading Indicators... provides technical information on leading indicator data.
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About Leading Indicators...
Data Source
The composite index for each area is derived from historical data on six components:
- Valuation by U.S. Census Bureau of housing authorized by building permits.
- Initial claims for unemployment insurance from the Labor Market Review.
- Average weekly hours in manufacturing from the Labor Market Review.
- Domestic automobile production from Ward's Communications, Dearborn, Michigan.
- National composite index of economic indicators from The Conference Board.
- Yield curve (the difference between 1-year and 10-year Treasury bonds of constant maturities) from the Federal Reserve. See "Treasury constant maturities" on the Selected Interest Rates.
Level of Detail
The composite index is designed to anticipate changes in the local economy as measured by total nonagricultural wage and salary employment.
Frequency
Monthly.
Time Period Covered
Thirteen months of current data are published for the composite index and its components. Data tables for Ohio and Metropolitan Statistical Areas contain monthly information beginning January 1990.
Geographic Areas
Leading Indicators are published for Ohio and the eight largest
Metropolitan Statistical Areas (MSAs)
.
Developed by the Office of
Management and Budget, Metropolitan Statistical Areas are integrated geographic
regions comprised of at least one city and adjacent communities. Metropolitan
Statistical Areas make it possible for Federal statistical agencies to utilize
the same boundaries when publishing statistical data.
Uses
To provide notice three to six months in advance of expected economic performance for economic planning.
Limitations
Ohio's Leading Indicators are designed to predict changes in employment, not output.
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