Conference Board Leading Economic Index For October Rose 0.5%
(For October 2010)
Conference Board Leading Economic Index (LEI) rose 0.5% in October. The consensus was at 0.6%, prior revised reading (from +0.3%) was at 0.5%. On year level LEI is up 6.0% vs. 6.8% in August.
This is uber-Keynesian indicator as 43% of its value is derived from monetary factors (M2 and interest rate spread).
From the press release:
Says Ataman Ozyildirim, economist at The Conference Board: “The LEI remains on an upward trend, suggesting the modest economic expansion will continue in the near term. The LEI’s growth has been slowing this year, but gains in the financial components helped its pickup in October.
”Says Ken Goldstein, economist at The Conference Board: “The economy is slow, but latest data on the U.S. LEI suggest that change may be around the corner. Expect modest holiday sales, driven by steep discounting. But following a post-holiday lull, the indicators are suggesting a mild pickup this spring.”
Chart 1. Conference Board Leading Economic Index
November 18th, 2011 at 11:30 am
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