Economic forecaster Lakshman Achuthan is delivering an encouraging outlook.

He finds a surge in commodity prices suggests the industrial space will lead the next leg of the recovery.

“[It] is really firing on all cylinders,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday.

He builds his bullish case in a chart showing a spike in industrial commodity prices, which includes tallow and benzene, that started last Spring.

“The readings that we’re showing in this chart here are the strongest we’ve seen since the spring of 2018,” said Achuthan. “So, we have a recovery that is going to continue.”

Achuthan believes the trend confirms his thesis that it’ll be the shortest U.S. economic recession on record.

“This is in line with a lot of other cyclical leading indicators of the industrial sector,” he noted. “These industrial, mining and material stocks, that they are actually outperforming the overall

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