Monday, July 21, 2008

Leading Indicators Fall Slightly

- Leading Indicators for June fell .1% versus estimates of a .1% decline and a downwardly revised .2% decline in May.

BOTTOM LINE: The index of leading US economic indicators fell in June for a second month, Bloomberg reported. The six-month annualized change for the index is -1.7% versus the -4 to -4.5% six month annualized decline normally scene during recessions, according to the Conference Board. A decline in the money supply spurred the slight decrease in the overall index. Economists now expect 2Q GDP growth, which is released on July 31, at 2.2%. I expect Leading Indicators to rise modestly for the month of July.

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