THOUGH prices are in their steepest climb in 18 years, Washington's economic seers have repeatedly insisted, as Nixon Adviser Herbert Stein said last week, that "we have turned a corner." Now, at last, there is confirmation of sorts in a group of economic telltales known as the "leading" indicators.
Analyzed monthly by the Commerce Department, the leaders are indexes that tend to foreshadow the pattern of production, paychecks and prices. In October, the leaders began to level off; for the next five months they zigzagged. During March, to judge by the eight indicators...
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