Each of the above sectors of the economy was given four sequences (Lead, Lag, In line, No effect) related to how they performed in the recovery phase. According to McKinsey Quarterly history suggest that in three of the four most recent recessions, higher consumer discretionary and IT spending led the way to recovery and the current recession seems to be following a similar pattern. Looking at the IT sector companies earnings before interest, taxes, and amortization (EBITA) will be carefully watched by executives across all industries and market watchers.
As an avid follower of business news, I noticed business news focus on the earnings of Cisco (CSCO). Many analyst view Cisco as a bellweather/ground hog of the tech industry and the economy as a whole thus it should indicate the start of a recovery. So keep an eye on Cisco earning (EBITA) for the near future.