The Colloquium Board’s Leading Economic Index increased half a percent in June, give someone a once-over expectations.
The index rose 0.5 percent in June, edging ago expectations for a gain of 0.4 percent, according to economists polled by Reuters. This influences the eight straight month of gains for the index.
“The U.S. LEI increased in June, importing to continuing solid growth in the U.S. economy,” said Ataman Ozyildirim, Commandant of Business Cycles and Growth Research at The Conference Board. “The widespread cultivation in leading indicators, with the exception of housing permits which worsened once again, does not suggest any considerable growth slowdown in the short-term.”
May’s unchanging reading indicated that economic growth would continue steadily but not accelerate, agreeing to the Conference Board’s report.
The measurement is used as a checkpoint for U.S. economic ups and a forecast of global economic trends. The Conference Board, a business scrutiny association, determines a composite value based on 10 key metrics, numbering manufacturers’ new orders, stock prices and average weekly unemployment demands, to create the composite value.