The Conference Board Leading Economic Index® (LEI) for Australia Declines
NEW YORK, Jan. 28, 2013 /PRNewswire/ — The Conference Board Leading Economic Index® (LEI) for Australia declined 0.2 percent in November to 121.9 (2004 = 100), following a 0.2 percent increase in October, and a 0.3 percent decline in September.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.1 percent in November to 121.6 (2004 = 100), following no change in October and no change in September.
The LEI for Australia fell in November, and has declined in four of the last six months. As a result, its six-month change remains negative. Meanwhile, the CEI remains essentially on a flat trend and its rate of growth has decelerated from the first half of 2012. Taken together, the composite indexes and their components continue to suggest that the pace of economic expansion is likely to slow in the near term.
About The Conference Board Leading Economic Index(® )(LEI) for Australia
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading and coincident economic indexes are essentially composite averages of several individual leading or coincident 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 seven components of The Conference Board Leading Economic Index(®) for Australia include:
Yield Spread, 10 year minus Policy Rate
Share Prices, All Ordinaries
Money Supply, M3
Rural Goods Exports
Sales to Inventory Ratio
Gross Operating Surplus, Private Non-Financial Corporations
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About The Conference Board
The Conference Board is an 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. www.conference-board.org.
Summary Table of Composite Economic Indexes 2012 6-month Sep Oct Nov May to Nov 121.8 p 122.1 p 121.9 p Leading Economic Index Percent Change -0.3 p 0.2 p -0.2 p -0.9 Diffusion 35.7 50.0 21.4 57.1 121.5 p 121.5 p 121.6 p Coincident Economic Index Percent Change 0.0 p 0.0 p 0.1 p 0.2 Diffusion 62.5 62.5 75.0 50.0 n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved
SOURCE The Conference Board