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Lagging indicators are indicators that usually change after the economy as a whole does. Typically the lag is a few quarters of a year. The unemployment rate is a lagging indicator: employment tends to increase two or three quarters after an upturn in the general economy.
Edward Hallett Carr CBE FBA (28 June 1892 – 3 November 1982) was a British historian, diplomat, journalist and international relations theorist, and an opponent of empiricism within historiography.