As I searched my trusty telecom dictionary for a term a potential customer used in an email which I had never heard of before, I came across an entry for "lipstick indicator". I was intrigued and searched for the term online. I came across this explanation on http://www.investopedia.com. Interesting concept and it makes sense. I just never thought of it as being an indicator of a shaky economy. I can only imagine how much lipstick must be selling nowadays.
Leading Lipstick Indicator
An indicator based on the theory that a consumer turns to less expensive indulgences, such as lipstick, when she (or he) feels less than confident about the future. Therefore, lipstick sales tend to increase during times of economic uncertainty or a recession.
This term was coined by Leonard Lauder (chairman of Estee Lauder), who consistently found that during tough economic times, his lipstick sales went up. Believe it or not, the indicator has been quite a reliable signal of consumer attitudes over the years. For example, in the months following the September 11 terrorist attacks, lipstick sales doubled.