The Leading Economic Index by the Conference Board was able to expand by a half percent this month, showing a higher than expected figures. The indicator had increased by 0.5 percent in June which beat the forecast of 0.4 percent growth based on the Reuters’ poll. The boost marks the eighth consecutive month of improvement for the index. Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board, stated that the US LEI rose due to the continued stable growth in the American economy. He added that the overall strengthening in leading indicators, except the housing permits which decreased again, does not indicate any significant slowdown in the near-term. The flat reading in the month of May suggested that the economic performance will remain strong but will not move higher as shown in the Conference Board's report. The measurement evaluates the US economic conditions and the outlook of world economic trends. Furthermore, the Conference Board imposed a composite value based on 10 key metrics which includes the average weekly unemployment claims, producers’ new orders and stock prices.
