Yield Curves: These are the most closely watched indicators of an impending recession. Yield is simply the interest rate on a bond or treasury. These treasuries have different lengths of duration, also called maturity. The curve compares how these interest rates alter over time. Historically, the interest rate is higher on a bond with a longer maturity. However, when a yield curve inverts, this inversion means investors are demanding a higher yield for treasuries of shorter time durations. Essentially, investors believe its riskier to hold their bond over a shorter term. The yield curves investors choose to follow are: 10 year and 3 month treasury rate, 2 year and 10 year treasury yields.

Employment data: Employment rate is a measure that many economists use when thinking about a possible recession. During the first week of each month, these figures are published to measure the job market. The report contains various data points, including the percentage of unemployment and the number of jobs each sector creates. Another factor to look at in the report is the "Number of hours worked". This can be a leading indicator as, during times when businesses are worried, the first thing they do is cut employee hours. Additionally, the "jobless claims section" gives a gauge of the amount of people applying for unemployment benefits. If this number rises, it adds confluence that a recession is plausible.

Confidence indexes: In economics, its important to understand market sentiment especially if you're trying to predict what the economy will look like in the future. When there are businesses and consumers who feel less confident about the future, they have less willingness to spend, and the economy will see a contraction in growth. The University of Michigan publishes monthly consumer sentiment index, whilst assets like Bitcoin confidence can be measured through the Fear and Greed Index.

Gross Domestic Product (GDP): A recession means that an economy is not growing, meaning corporate profits have slowed down and the overall economy is fairly stagnant. The meter that measures this is the GDP; This means monitoring the quarterly data can show signs of a faltering economy. Its worth looking at expectations vs reality figures too. When real GDP (GDP which factors in inflation is rising above its expected, statistically, we see economies peak and then have a drawback.

Business Earnings and Reports: During a possible recession, businesses that are less resistant may have cashflow problems that force them to lay off employees, reduce expenses and incur debt to stay afloat. Cash reserves tend to decline as paying bills, and other expenses are a priority. During this, consumers are also falling, which can further impact companies’ financial commitments leading them to minimize payments, acquisitions and capital expenditure. These figures are usually published annually on a company's 10-k report to shareholders.

Commodity Prices: We know that commodities are a "Store of Value". Prices of precious metals especially have held well during recessions. When recessions loom, investors perceive gold to elevate in price. Equities and precious metals, oppositely, correlate and therefore, watching these prices can give you a good indication.

Consumer spending: Consumer spending makes up a significant portion of economic activity. Retail sales, consumer sentiment surveys, and personal income are all important indicators of consumer spending trends.

Inflation: Inflation measures the rate of increase in prices of goods and services. High inflation can lead to higher interest rates, which can reduce spending and economic growth.

Interest rates: The Federal Reserve controls short-term interest rates, which can impact borrowing costs and business investment. An increase in interest rates can slow down economic growth.

Housing market: The housing market is an important indicator of consumer and business confidence. Home sales, housing starts, and mortgage rates are all important indicators to monitor.