Yesterday economic analysts were looking for clues in the latest jobless claims release. This morning they are poring over the durable goods report. All interesting stuff, to be sure. But we ran across a story -- credited to Forbes -- suggesting that simple observation of what businessmen are wearing might provide equally useful insight into the economic vibe:
Want to know if we're really on the road to recovery? Look for pink ties, says
Robert Allsbrook, chief economist for Regions Bank, in Birmingham, Ala."Men and women wear bright colors
when they feel confident, and drab beige colors when they feel bad," says
Allsbrook. "Men's ties are a leading indicator because they're a very
inexpensive way to change a wardrobe." Last summer, even before Lehman
Brothers fell into bankruptcy, Allsbrook says he saw muted wardrobes, 
what he
calls "funeral clothes." And now? "Since the start of the summer, I've seen lots
of men wearing pink and fuchsia colored ties," he says.
The story goes on to look at some other possible leading indicators, including: telecommunications infrastructure, wine auction results at Christie's, denim sales, hotel cancellations and even restaurant garbage piles:
Americans are eating out again, and that's a good sign. You can see that trend in the size of the garbage piles behind restaurants, says Sam Firer, a consultant for the Hall Company, a restaurant advisory. "The garbage is not from what people have eaten, it's from what you use to make the food," says Firer, whose clients include New York's B.R. Restaurant Group, which owns Dos Caminos, Blue Water Grill and Blue Fin. After a rough 2008, he adds, "this summer it was stinky [of garbage] again."
