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Indicators reflecting future changes in economic conditions; referred to as the Composite Index of 11 Leading Indicators. This index indicates the direction of the economy in the next six to nine months. It helps to forecast business trends; hence, the reference "leading indicators". The Index consists of 11 indicators, and are subject to revision. This series is calculated and published monthly by the U.S. Department of Commerce. It includes as one element Residential building permits for private housing. Note that gains in building permits signal business upturns.