A coincident indicator?

When I came to the metro Phoenix area in April of 2005 one of the things that I noticed about the area was the number of helicopters flying about. There seemed to be a never ending assortment passing over our fair metropolis.

Then the economic slowdown hit. Beginning in 2007, it spiraled downward into 2009. During this time frame I noticed that there were less and less helicopters above our heads scouting the territory. I recall making a mental note in the early part of 2010 about how the helicopter sightings might be a non-scientific coincident indicator of economic vitality.

Now I am not saying that our economy is out of the woods but over the last several weeks I have noticed the number of helicopter sightings has increased. Could this be a sign that the slow trek back to positive economic performance is on the horizon?

I will be watching the sky over metro Phoenix to see if this coincident anecdotal sign has any validity to it – hopefully, for all of us Phoenicians; it is the beginning of the end of the depressed economy that we have experienced over the last three years.