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- U.S. Leading Economic Index increases more than forecast in August
U.S. Leading Economic Index increases more than forecast in August
The
Conference Board announced on Thursday its Leading Economic Index (LEI) for the
U.S. rose 0.9 percent m-o-m in August to 117.1 (2016 = 100), following a
revised 0.8 percent m-o-m advance in July (originally a 0.9 percent m-o-m increase).
Economists
had forecast an increase of 0.7 percent m-o-m.
The
U.S. LEI rose sharply in August and remains on a rapidly rising trajectory,” noted
Ataman Ozyildirim, Senior Director of Economic Research at The Conference
Board. “While the Delta variant - alongside rising inflation fears - could
create headwinds for labor markets and the consumer spending outlook in the
near term, the trend in the LEI is consistent with robust economic growth in
the reminder of the year. Real GDP growth for 2021 is expected to reach nearly
6.0 percent year-over-year, before easing to a still-robust 4.0 percent for
2022.”
The
report also revealed the Conference Board Coincident Economic Index (CEI) for
the U.S. went up 0.2 percent m-o-m in August to 105.9, following a 0.6 percent
m-o-m jump in July. Meanwhile, its Lagging Economic Index (LAG) for the U.S. edged
up 0.1 percent m-o-m in August to 106.3, following a 0.5 percent m-o-m advance
in the previous month.
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