Index of leading US economic indicators rose slightly in February

By

Sharecast News | 17 Mar, 2016

Updated : 14:17

A widely-followed gauge of the US economy moved slightly higher in February, which was consistent with a considerable moderation in the business cycle but not a near-term downturn, according to one of the country’s best-known think-tanks.

The US Conference Board’s index of leading economic indicators edged higher by 0.1% in February to a level of 123.2 following a decline of 0.2% in the month before and of 0.3% in December.

According to Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board, “although the LEI’s six-month growth rate has moderated considerably in recent months, the outlook remains positive with little chance of a downturn in the near-term.”

An index of coincident indicators published within the same report rose by 0.1% to 113.3 while another composed of lagging ones registered an increase of 0.4%.

Average weekly hours in manufacturing, weekly initial unemployment insurance claims, manufactures so-called ‘core’ orders for capital goods, a gauge of the 500 most common shares’ prices and the spread between the benchmark 10-year US Treasury note were among the ten components making up the LEI.

In February, housing permits, stock prices, consumer expectations, and new orders remained sources of weakness, Ozyildirim said.

Last news