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Released: Friday, December 17, 2010

Next month's release will incorporate annual benchmark revisions to the composite indexes. These regular benchmark revisions bring the indexes up-to-date with revisions in the source data. The revisions do not change the cyclical properties of the indexes. The indexes are updated throughout the year, but only for the previous six months. Data revisions that fall outside of the moving six-month window are incorporated when the benchmark revision is made and the entire histories of the indexes are recomputed. As a result, the revised indexes and their month-over-month changes will no longer be directly comparable to those issued prior to the benchmark revision.

For more information, please visit our website at:


http://www.conference-board.org/data/bci.cfm
or contact
indicators@conference-board.org.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 1.1 percent in November to 112.4 (2004=100), following a 0.4 percent increase in October, and a 0.6 percent increase in September.

Download a PDF of the technical notes for underlying detail, diffusion indexes, components, contributions and graphs.

Download a PDF of the press release with graph and summary table.

Says Ataman Ozyildirim, economist at The Conference Board: “November’s sharp increase in the LEI, the fifth consecutive gain, is an early sign that the expansion is gaining momentum and spreading. Nearly all components rose in November. Continuing strength in financial indicators is now joined by gains in manufacturing and consumer expectations, but housing remains weak.”

Says Ken Goldstein, economist at The Conference Board: “The U.S. economy is showing some sparks of life in late 2010. Overall, the indicators point to a mild pickup after a slow winter. Looking further out, possible clouds on the medium term horizon include weaknesses in housing and employment.”

The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 0.1 percent in November to 101.7 (2004=100), following a 0.2 percent increase in October, and a 0.1 percent decline in September. The Conference Board Lagging Economic Index® (LAG) declined 0.1 percent in November to 108.6 (2004=100), following no change in October, and a 0.6 percent increase in September.  

About The Conference Board Leading Economic Index® (LEI) for the U.S.

The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.

The ten components of The Conference Board Leading Economic Index® for the U.S. include:

Average weekly hours, manufacturing

Average weekly initial claims for unemployment insurance

Manufacturers’ new orders, consumer goods and materials

Index of supplier deliveries – vendor performance

Manufacturers' new orders, nondefense capital goods

Building permits, new private housing units

Stock prices, 500 common stocks

Money supply, M2

Interest rate spread, 10-year Treasury bonds less federal funds

Index of consumer expectations

 

For full press release and technical notes:

http://www.conference-board.org/data/bcicountry.cfm?cid=1

 

For more information about The Conference Board global business cycle indicators:

http://www.conference-board.org/data/bci.cfm

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.

THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION.

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