It is important that what passes for money today be taken seriously. And if the money is to be taken seriously, despite its non-existence, then economics must be taken seriously. No doubt the king's canny tailors could produce abstruse research papers setting forth the physical properties of their wondrous cloth in highly scientific terms. Except, of course, it was all baloney.
Economists also produce abstruse research, in highly scientific terms.
As a non-economist, I find this list interesting, and confusing. Housing starts, for example, are a leading indicator. For this statistic to be relevant, therefore, we must assume a certain degree of financial savvy on the part of the general public. Furthermore, if bank loans are relatively easy to get, and the rate low enough, people may borrow for home building even if they have some doubts about the economy. The price of five hundred common stocks is another leading indicator.