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[sludgehound]

NYT 2 new indicators to gauge economy

http://www.nytimes.com/2015/05/30/upshot/shrinking-economy-no-but-its-not-surging-either.html?emc=edit_th_20150530&nl=todaysheadlines&nlid=16092731&abt=0002&abg=0

1. An impressive body of research has demonstrated that the income-based measure is more reliable.
This alternative measure, called gross domestic income, grew at an annual rate of 1.4 percent in the winter, after growing at an impressive 3.7 percent the previous quarter.


2. Moreover, much of our economic weakness occurred in types of spending where weakness is often fleeting. To get a sense of the underlying momentum of business and consumer spending, economists often focus on those components that tend to predict future momentum. In particular, the Bureau of Economic Analysis will soon emphasize a measure called “final sales to private domestic purchasers.”