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"forward-looking indicators" is correct and usable in written English.
You could use it when you are referring to indicators that predict the future, such as economic or political indicators. For example, "The economists studied the forward-looking indicators to make predictions about the future of the economy."
Exact(28)
Forward-looking indicators suggest a gloomier picture.
Many forward-looking indicators are drawing a more pessimistic picture of economic activity.
Especially worrying was the big decline in the forward-looking indicators.
Forward-looking indicators of business and consumer sentiment suggest that growth is likely to slow.
Across the globe forward-looking indicators, such as surveys of purchasing managers, are horribly gloomy.
Yet there are forward-looking indicators that, under the circumstances, are not too bad.
Similar(32)
Already the market, a forward-looking indicator, seems to be looking beyond the valley of these tough times and forecasting a brighter second half for 2008.
There is the macro-economic stuff, which obviously includes GDP and employment, and also the purchasing managers' indices (PMIs), which give the best forward-looking indicator for what is likely to happen in the next few months.
"It's not necessarily a forward-looking indicator".
The stockmarket can be a better forward-looking indicator than business opinion.
That good news is tempered somewhat (as all good economic news must be) by the knowledge that job vacancies is a forward-looking indicator.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com