cme forex

Leading Index Was Unchanged During July — Data Confirm the Economy Was Weak Even Before The Persian Gulf Crisis

The government’s principal economic forecasting index was flat in July, another sign that the economy was precarious even before turmoil in the Middle East jarred American consumers and businesses. The flat reading of the index of leading indicators, a collection of 11 sets of economic statistics that are supposed to foreshadow economic activity six to nine months in advance, followed a 0.1% rise in June and a 0.6% increase in May. Those figures marked slight revisions from last month when, based on preliminary data, the department calculated that the index was unchanged in June and rose 0.7% in May. Only three of the 11 indicators made positive contributions to the index last month: orders for new plant and equipment, raw materials prices and an index of consumer confidence all rose. The other eight — including stock prices, unemployment claims, factory orders and building permits — held the index down.