Leading Economic Indicators from the Conference Board is a bit of a misnomer, mainly because by the time the report comes out we generally have seen bits and pieces of more than half of the data measured. This morning’s “LEI” for June came in at +0.7%. That is not just above the Bloomberg consensus estimate of 0.5%, but it marks a three-month rise in the report.
The coincident index fell by -0.2% in June, and that is after a -0.4% reading in May. The ‘Lagging indicators’ were down by -0.7% after a revised -0.4% reading in May. The original reports showed -0.2% for both the coincident and lagging components.
May’s reading came in originally at +1.2%, and that was revised to +1.3%. Stock prices were a help, as were spreads on interest rates, data from builders, and in the jobs data. capital goods orders (non-defense) acted as a drag with the real money supply.
These aren’t exactly hot and heavy indicators that things are ramping up solidly, but this is just further evidence that the effects of the recession are slowing down and getting less-bad to better in some aspects.
JON C. OGG
JULY 20, 2009
Top Gaining Stocks
Top Losing Stocks