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- U.S. Leading Economic Index rises more than forecast in July
U.S. Leading Economic Index rises more than forecast in July
The Conference
Board announced on Thursday its Leading Economic Index (LEI) for the U.S. rose 1.4
percent m-o-m in July to 104.4 (2016 = 100), following a revised 3.0 percent
m-o-m advance in June (originally a 2.0 percent m-o-m gain).
Economists had
forecast an increase of 1.1 percent m-o-m.
“The US LEI
increased for the third consecutive month in July, albeit at a slower pace than
the sharp increases in the previous two months,” noted Ataman Ozyildirim,
Senior Director of Economic Research at The Conference Board. “Despite the
recent gains in the LEI, which remain fairly broad-based, the initial
post-pandemic recovery appears to be losing steam. The LEI suggests that the
pace of economic growth will weaken substantially during the final months of
2020.”
The report also
revealed the Conference Board Coincident Economic Index (CEI) for the U.S. went
up 1.2 percent m-o-m in July to 99.2, following a 2.9 percent m-o-m climb in June.
Meanwhile, its Lagging Economic Index (LAG) for the U.S. declined 1.0 percent
m-o-m in July to 109.2, following a 2.3 percent m-o-m drop in June.
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