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Leading index up 0.7%

July 20, 2009

The Conference Board reported its U.S. leading index of economic indicators rose for the third consecutive month in June by 0.7% to 100.9. With these gains, its six month growth has picked up to the highest rate since the first quarter of 2006. 

Seven of the ten indicators that make up the board’s leading index increased in June. They were interest rate spread, building permits, stock prices, weekly initial claims (inverted), average weekly manufacturing hours, index of supplier deliveries (vendor performance), and manufacturers' new orders for consumer goods and materials. The negative contributors, beginning with the largest negative contributor, were real money supply, manufacturers' new orders for nondefense capital goods, and index of consumer expectations.