The recovery in the leading index could indicate that the economy is poised for growth by late summer. There appears to be enough economic demand to end the slide in industrial production, though no strong rebound appears in sight.

With slower hiring, and indications that hiring might remain soft in the months ahead, the economy could struggle, setting up a self-fulfilling prophecy.

This could be a signal that the economy will continue to expand this spring before slowing later in the year.

The economy has been on a little bit of a seesaw, where we have had a softer fourth quarter, perhaps (a) still somewhat soft first quarter, with some improvements certainly for the second quarter.

The economy is growing now, but not as fast as it did last year before the hurricanes.

The coincident economic indicators have been rising moderately but steadily in recent months, suggesting the economy is sustaining a relatively moderate pace.