Changes in ratings are usually lagging indicators, following rather than causing economic hardship.

评级变动通常只是反应滞后的指标，它是经济困难的产物，而不是它的原因。

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Lagging indicators are economic indicators which kick point is after the overall economic cycle changes.

滞后指标是指那些转折点滞后于经济波动的指标。

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Lagging indicators follow the changes of economic cycle whereas synchronized indicator changes synchronized with it.

而滞后指标是跟随经济周期变化的经济指标，同步指标则与经济周期活动同时变化。

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That said, some are leading indicators while others are lagging and amid the current economic environment, investors are examining leading indicators to determine what is coming next.

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Perhaps I should just leave it at that and not wonder if it indicates the market now really believes employment is a leading indicator, and housing and consumer confidence, so important last year, are now lagging and unimportant indicators, that employment can recover and economic growth can continue, if the housing sector and autos roll over to the downside again.

FORBES: Housing data is more important than jobs data!