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The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.1 percent in August to 123.7 (2010 = 100), following no change in July, and a 0.6 percent increase in June.
"The U.S. LEI suggests economic growth will remain moderate into the New Year, with little reason to expect growth to pick up substantially," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. "Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector. However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months."
The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 0.1 percent in August to 112.6 (2010 = 100), following a 0.4 percent increase in July, and a 0.1 percent increase in June.
The Conference Board Lagging Economic Index® (LAG) for the U.S. increased 0.2 percent in August to 118.5 (2010 = 100), following a 0.3 percent increase in July, and a 0.9 percent increase in June.
About The Conference Board Leading Economic Index® (LEI) for the U.S.
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.