The Conference Board Leading Economic Index® (LEI) for Australia Increases
NEW YORK, June 18, 2013 /PRNewswire/ — The Conference Board Leading Economic Index® (LEI) for Australia increased 0.3 percent in April to 123.1 (2004 = 100), following a 0.1 percent increase in March, and a 0.4 percent increase in February.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.3 percent in April to 122.9 (2004 = 100), following a 0.2 percent increase in March, and a 0.3 percent increase in February.
The LEI for Australia has been increasing at a modest pace since the beginning of 2013, and its six-month growth has continued to pick up compared to the second half of last year. Meanwhile, the slightly upward trend in the CEI continued through April, and its six-month grow rate has also improved. Taken together, the recent gains in both the LEI and CEI continue to suggest that the rate of economic expansion could continue to accelerate in the coming months.
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 2013 6-month Feb Mar Apr Oct to Apr Leading Economic Index 122.6 r 122.7 p 123.1 p Percent Change 0.4 # 0.1 p 0.3 p 0.7 Diffusion 85.7 71.4 71.4 85.7 Coincident Economic Index 122.3 122.5 p 122.9 p Percent Change 0.3 r 0.2 p 0.3 p 1.2 Diffusion 100.0 75.0 100.0 100.0 n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved
SOURCE The Conference Board