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The BDI is one of the purest leading indicators of economic activity. It measures the demand to move raw materials and precursors to production, as well as the supply of ships available to move this cargo. Consumer spending and other economic indicators are backward looking, meaning they examine what has already occurred. The BDI offers a real time glimpse at global raw material and infrastructure demand. Unlike stock and commodities markets, the Baltic Dry Index is totally devoid of speculative players. The trading is limited only to the member companies, and the only relevant parties securing contracts are those who have actual cargo to move and those who have the ships to move it

Googled this on http://www.wikinvest.com/stock/Baltic_Dry_Index_-_BDI_(BALDRY). Fascinating reading. I can't believe I've never hard to the BDI before - you'd think it would be in all the economic sections of the papers or primers on the economy. Thanks so much for informing us. (me)

Here's a couple of interesting stories. All with indicators leading to the economy worsening - and soon.

Calpernia had posted about the Baltic Dry Index previously here. It was rising at that time, but has reversed itself: Baltic loses last month's gains

An FR thread: Is a Major US Dollar Devaluation Imminent?