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Checking in on Alan Greenspan's Favorite Economic Indicator

from Seeking Alpha

Alan Greenspan was fond of tracking scrap prices and believed they were an important indicator of economic health, especially to anticipate a recovery or recession. I wanted to check in on this indicator to see what it is signaling about today's economic climate. Scrap metal is unique amongst many indicators tracked by market professionals to gauge economic activity as it is free from any sort of speculation. Scrap metal typically comes from vehicles, buildings, and appliances. In the U.S., it is an export industry and serves as a critical source of raw material for the steel and aluminum industry. more

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