In the news, before they tell us if things are good or not, they say “The leading economic indicators say …” But they never explain what they are. What are they?

So, depends. You can use an aggregate, such as the Conference Board, which produces an index of leading indicators.

[https://www.conference-board.org/topics/us-leading-indicators/](https://www.conference-board.org/topics/us-leading-indicators/)

The Conference Board uses 10 indicators (in the link above) to create its index. It also has coincident indicators and lagging indicators.

Alternatively, you can look at individual indicators. These would be any that would largely face a downturn BEFORE the economy faced one. Some leading indicators can be based on preference, but some major ones are building permits, jobless claims, consumer confidence, and new orders (for manufacturing, for instance).