Their secret indicator? EconoMeter panelists reveal theirs
Besides statistics, there are other signs - some quirky, some indicative of trends, perhaps
Roger Showley, SAN DIEGO UNION-TRIBUNE
Friday, March 16, 2012
Kelly Cunningham, National University System
Myriad unconventional indicators purportedly indicate the economy’s direction usually based upon consumer purchasing patterns. There may be some legitimate correlations since consumer spending fuels the economy more than any other single component. One of my favorites is the hemline indicator based upon the length of women’s skirts -- the shorter the hemline, the better the economy. The concept was actually developed in the 1920s by an economist. Hemlines below the knee in winter 2008 indicated we were hurtling toward recession. Disparate competing fashions of today may symbolize the current schizophrenic directions of the economy -- or maxi skirts now appearing signify another downturn.