Economic Indicators Climb at Slower Rate in August
The Conference Board’s index of U.S. leading economic indicators, a gauge of the outlook for the next three to six months, climbed 0.2% in August after increasing 1.1% in July, and 0.7% in June.
“The LEI continued to rise in August, although at a slower rate than in July,” said Ataman Ozyildirim, economist at The Conference Board. “The LEI’s six-month growth trend has been held back slightly by lackluster contributions from housing permits and new orders for nondefense capital orders. Despite concerns about investment picking up, the economy should continue expanding at a moderate pace for the remainder of the year.”
“The leading indicators point to an economy that is continuing to gain traction, but most likely won’t repeat its stellar second quarter performance in the second half,” said Ken Goldstein, economist at The Conference Board. “Meanwhile, the CEI, a measure of current economic activity, continued to expand through August, amid improving personal income, employment and retail sales. However, industrial production registered a slight decrease for the first time in seven months.”
The Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.2% in August to 109.7 (2004 = 100), following a 0.1% increase in July, and a 0.3% increase in June.
The Conference Board Lagging Economic Index® (LAG) for the U.S. increased 0.3% in August to 125.1 (2004 = 100), following a 0.3%t increase in July, and a 0.4% increase in June.