U.S. Leading Economic Index Climbs More Than Expected In June
19 July 2018 - 8:18PM
RTTF2
Pointing to continuing solid growth in the U.S. economy, the
Conference Board released a report on Thursday showing a bigger
than expected increase by its index of leading economic indicators
in the month of June.
The Conference Board said its leading economic index climbed by
0.5 percent in June after revised data showed no change in May.
Economists had expected the index to rise by 0.4 percent
compared to the 0.2 percent uptick originally reported for the
previous month.
"The widespread growth in leading indicators, with the exception
of housing permits which declined once again, does not suggest any
considerable growth slowdown in the short-term," said Ataman
Ozyildirim, Director of Business Cycles and Growth Research at the
Conference Board.
The bigger than expected increase by the headline index
reflected positive contributions from seven of the ten indicators,
including the ISM new orders index, the interest rate spread, and
the Leading Credit Index.
Building permits were the only negative contributor, while
average weekly manufacturing hours and manufacturers' new orders
for non-defense capital goods excluding aircraft held steady.
The report also said the coincident economic index rose by 0.3
percent in June after inching up by 0.1 percent in May. All four
indicators that make up the index increased during the month.
The lagging economic index also climbed by 0.3 percent in June
following a 0.5 percent increase in May, reflecting positive
contributions from four of its seven components.
The positive contributors included commercial and industrial
loans outstanding, the average prime rate charged by banks, the
average duration of unemployment, and the ratio of consumer
installment credit outstanding to personal income.
US Dollar vs Yen (FX:USDJPY)
Forex Chart
From Apr 2024 to May 2024
US Dollar vs Yen (FX:USDJPY)
Forex Chart
From May 2023 to May 2024