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Released: Tuesday, July 19, 2011

The Conference Board Leading Economic Index®(LEI) for China increased 0.5 percent in May to 155.0 (2004 = 100), following a 0.1 percent increase in April and a 0.9 percent increase in March. Four of the six components contributed positively to the index in May.

Says Jing Sima, economist for The Conference Board: “The modestly rising trend of the China LEI since the beginning of 2011 continues to point to economic expansion for the rest of the year. In May, weakness in consumer expectations was offset by credit expansion and slightly improving manufacturing activity. However, consumer prices continue to rise rapidly, and growth in retail sales has moderated somewhat compared to last year, suggesting that consumption growth may be weakening as one of the contributors to output growth.”

The Conference Board Coincident Economic Index®(CEI) for China, which measures current economic activity, increased 0.5 percent in May to 202.8 (2004 = 100), following 1.3 percent increases in both April and March. Four of the five components contributed positively to the index in May.

The Conference Board LEI for China aggregates six economic indicators that measure economic activity in China. Each of the LEI components has proven accurate on its own. Aggregating individual indicators into a composite index filters out so-called “noise” to show underlying trends more clearly.

About The Conference Board Leading Economic Index®(LEI) for China

The Conference Board Leading Economic Index® for China was launched in May 2010. Plotted back to 1986, this index has successfully signaled turning points in the economic cycles of China.

The Conference Board also produces LEIs for Australia, the Euro Area, France, Germany, Japan, Korea, Mexico, Spain, the United Kingdom, and the United States.

The six components of The Conference Board Leading Economic Index® (LEI) for China include:

Total Loans Issued by Financial Institutions (source: People’s Bank of China)

5000 Industry Enterprises Diffusion Index: Raw Materials Supply Index (source: People’s Bank of China)

NBS Manufacturing PMI Sub-Indices: PMI Supplier Deliveries (source: National Bureau of Statistics)

Consumer Expectations Index (source: National Bureau of Statistics)

Total Floor Space Started (source: National Bureau of Statistics)

NBS Manufacturing PMI Sub-Indices: Export Orders (source: National Bureau of Statistics)

For more information including full press release and technical notes:

To view The Conference Board calendar of 2011 indicator releases:

* The series in The Conference Board LEI for China that is based on our estimates is the 5000 industry enterprises diffusion index: raw materials supply index. There are no series in The Conference Board CEI for China that are based on our estimates.

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. For additional information about The Conference Board and how it can meet your needs, visit our website at


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