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During periods of “low visibility,” confusion reigns: for every indication of one trend, there seems to be a countertrend. The key is to glean from the collective wisdom of reliable leading indicators a clear signal that the economy is headed for a turn.

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Japan FIG Falls


A gauge of future inflation expectations in Japan fell last month, according to the Economic Cycle Research Institute.

The ECRI's future inflation gauge for October fell to 98.1 from 98.4 in September. The smoothed annualized rate, which is designed to minimize monthly fluctuations, fell to 0.3 percent.