Leading Indicators Pointing Up
The Conference Board’s index of leading indicators for the month of February has been released and the February figure shows a reading of +0.7%. Bloomberg had a consensus reading of +0.6%. This was one of the best readings in almost…
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While this was the highest in a year, it was held back a bit by “still subdued consumer expectations and the purchasing managers’ index for new orders held the LEI back in February.”
The coincident index rose 0.2% to 104.0 and the lagging index rose 0.2 percent to 114.1.
As a reminder, most of the “leading” part of this already known by the time the data is released. The ten components are as follows:
- Average weekly hours, manufacturing
- Average weekly initial claims for unemployment insurance
- Manufacturers’ new orders, consumer goods and materials
- ISM Index of New Orders
- Manufacturers’ new orders, nondefense capital goods excluding aircraft orders
- Building permits, new private housing units
- Stock prices, 500 common stocks
- Leading Credit Index™
- Interest rate spread, 10-year Treasury bonds less federal funds
- Average consumer expectations for business conditions
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
