It's hard for me to figure out which numbers (or groups of numbers) I should be watching for indications of what's really happening in the economy. I'd like to come up with some kind of Metrics Basket to look at. Any suggestions?
Here're a few from Calculated Risk today:
1) Unemployment Claims ticked down a tiny bit.
2) Home Foreclosures were down some in January, but still 15% above Jan09.
3) A brand new one out of UCLA's Anderson Sch of Mgmt (tracking diesel fuel consumption) shows a scary dip in their numbers.
I dunno.
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