Which of the following is not considered a leading economic indicator?

Personal income is not typically classified as a leading economic indicator. Leading indicators are statistics that tend to change before the economy as a whole changes, providing foresight about future economic activity. They include data that indicate how the economy might perform in the near future.

The other options—money supply, stock prices, and housing prices—are all considered leading indicators. The money supply reflects the amount of money available for spending and investment, which influences economic activity. Stock prices often rise in anticipation of improved business conditions as investors expect companies to do well. Housing prices can indicate future consumer spending and confidence; a rise in housing prices can signal growth in the economy because it reflects improved demand for housing.

In summary, while personal income is an important economic measure that reflects the current health of the economy, it is not particularly predictive, making it not a leading indicator like the others presented.