The Conference Board Leading Economic Index for the U.S. increased 0.7 percent in August to 96.6 (2004 = 100), following a 0.5 percent increase in July, and no change in June. The Coincident Economic Index increased 0.2 percent, and the Lagging Economic Index increased 0.3 percent.
“After a brief pause, the U.S. LEI rose sharply in July and August, resuming its upward trend,” said Ataman Ozyildirim, economist at The Conference Board. “If the LEI’s six-month growth rate, which has nearly doubled, continues in the coming months, economic growth should gradually strengthen through the end of the year. Despite weakness in residential construction, consumer expectations and the stock market, improvements in the LEI’s labor market and financial components, as well as new manufacturing orders, drove this month’s gain.”
“The latest reading points to more pep in the pace of economic activity in the near term,” said Ken Goldstein, economist at The Conference Board. “One unknown is how resilient confidence will remain, both consumer and business, given the mixed signals from the housing and labor markets. Perhaps the bigger question is a satisfactory resolution to federal budget squabbles.”
The Conference Board Coincident Economic Index for the U.S. increased 0.2 percent in August to 106.3 (2004 = 100), following a 0.1 percent increase in July and no change in June. The Conference Board Lagging Economic Index increased 0.3 percent in August to 118.6 (2004 = 100), following a 0.1 percent decline in July and a 0.3 percent increase in June.
