Laggard, laggard!!

I am curious about the following: the latest employment numbers in US are horrible. But it is a lagging indicator.

So why not talk about the other indicator that was reported around the same time: factory orders. This is a forward indicator, or at least it's not a lagging indicator.

It came below consensus, in a quarter when people are coming back from summer, classes begin, and Christmas inventories should start to build up.

HSBC moved its headquarters to Hong Kong.

Le's continue talking about the lagging indicator...