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A Study for Developing an Economic Indicator System for the Restaurant Industry
Jeong-Gil Choi
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Abstract
This study supports the view that the cyclical fluctuations of the growth of the restaurant industry can be projected by measuring and analyzing series of economic indicators and each economic indicator has specific characteristics in terms of time lags, and thus can be classified into leading, coincident, and lagging indicators. This study formed a set of composite indices with twelve indicators classified in the leading category, six as coincident, and twenty-one as lagging. The performances of the indicator system demonstrated that the system has great potential as a forecasting method.