21 June 2012 21:23 [Source: ICIS news]
WASHINGTON (ICIS)--Economic data on near-term prospects for ?xml:namespace>
The LEI represents a cumulative measure of ten different business and economic gauges, such as manufacturers’ new orders, residential building permits, interest rates and consumer sentiment, among others.
The current index is measured against the baseline level of 100 set in 2004, before the 2008-2009 US recession.
The 0.3% gain in May more than offset the 0.1% decline in April and served to reaffirm the 0.2% advance in March, the board said.
Board economist Ken Goldstein said data underlying the index “in general reflect a
Subsequent data on employment growth, consumer confidence, the long-depressed
But Conference Board economist Ataman Ozyildirim noted that the leading economic index has remained “in expansionary territory and is well above its growth at the end of 2011”.
That indicates, said Ozyildirim, there is “a relatively low risk of a downturn in the second half of 2012”.
Goldstein said recent data suggest the
He also cautioned that ongoing headwinds, both domestic and foreign, “make further strengthening of the economy difficult”.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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