This paper presents the results of a research endeavor to identify a system of leading indicators on economic activity as measured by the real Gross Domestic Product and its major components. Such indicators could help policymakers in the public and private sectors ascertain the pulse of economic activity either well in advance or in the absence of timely national income accounts, or both. The paper also underscores the existence of a significant number of indicators with long leads. In addition, it also finds that bank loans, financial investments in new businesses and/or material inputs are crucial explanatory variables in all the subsectors considered.
