The same economic phase appears earlier, at the same time, or later depending on the indicator
Leading indicators
Show the direction of the economy in advance
Housing starts, building permits, consumer expectations index, etc.
The slowdown in housing indicators before 2008 is a prime example
Coincident indicators
Reflect the current economy as it is
Industrial production index, retail sales, GDP, etc.
Used to immediately check the current state of the economy
Lagging indicators
Confirmed after changes have occurred
Unemployment rate, Consumer Price Index (CPI), etc.
COVID-19 phase, divergence between unemployment claims and the stock market