"(Economists get more excited than the rest of us when happening on a potential new indicator.)"

Then again all of us professionals get excited when we happen upon something that helps us do our job better.

In this case, this indicator may have substantial predictive power of something we are very interested in during the Great Recession as we wonder if it's going to be V, W, L or whatever shaped (W is a double dip recession, L is what Japan's been experiencing).

It's pretty interesting to look over the actual report:

http://www.ceridianindex.com/userfiles/file/Index-Report-Apr...