EmailThe Conference Board's Leading Economic Indicators Index increased 0.3% in June, exactly what the Briefing.com consensus expected, after increasing 0.8% in May.
Since 7 out of 10 components are known prior to the release of the report, the differences between the consensus and the actual data normally come from the three estimated components. In this case, the consensus and the leading indicators were in-line in terms of their predictions for orders of nondefense capital goods, orders for manufactured consumer goods, and the money supply.
The Leading Indicators Index remained in the black in June primarily because of the expected growth in the money supply. Weakness in employment and stock prices offset strength in building permits and interest rates.
