BUILDING PERMIT ACTIVITY HELPS BOOST U.S. LEADING INDEX
January 27, 2007
The U.S. leading index ended 2006 on a high note, increasing 0.3 percent in December to 138.0 (1996=100), The Conference Board reported yesterday. While declining housing permits negatively impacted the leading index throughout most of 2006, a higher level of building activity contributed to December’s increase. Other positive contributors included unemployment claims, real money supply, stock prices, vendor performance, and manufacturers’ orders for nondefense capital goods. A key barometer of economic conditions, the leading index suggests slow to moderate economic growth in the coming months, according to the report.
The coincident and lagging indices, which reflect current and past economic activity, respectively, also increased in December. The coincident index edged up 0.2 percent to 123.3, while the lagging index rose 0.9 percent to 127.3.
source: C.A.R.
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