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US recent pace of growth disappointingly slow: The Conference Board

24-Sep-2010 9:20 AM

US' Leading Economic Index (LEI) increased (23-Sep-2010) 0.3% in Aug-2010 to 110.2 (2004 = 100), following a 0.% increase in Jul-2010, and a 0.2% decline in Jun-2010, according to The Conference Board.  The Coincident Economic Index (CEI) for the US was unchanged in Aug-2010 remaining at 101.3 (2004 = 100), following a 0.1% increase in Jul-2010 and no change in Jun-2010 while the Lagging Economic Index (LAG) increased 0.2% in Aug-2010 to 108.1 (2004 = 100), following a 0.4% increase in Jul-2010 and a 0.1% increase in Jun-2010. [more]

The Conference Board: “While the recession officially ended in June 2009, the recent pace of growth has been disappointingly slow, fueling concern that the economic recovery could fade and the US could slide back into recession. However, latest data from the US LEI suggest little change in economic conditions over the next few months. Expect more of the same – a weak economy with little forward momentum through 2010 and early 2011,” Ken Goldstein, Economist. Source: Company Statement, 23-Sep-2010.

The Conference Board: “The US LEI, which began rising three months before the end of the recession, remains on a general upward trend. However, the pace has been slowing. Correspondingly, current economic conditions, as measured by The Conference Board CEI, have been essentially flat since May, after reaching a bottom in June 2009. Taken together, the composite indexes are consistent with a slowly expanding economy in the near term,” Ataman Ozyildirim, Economist. Source: Company Statement, 23-Sep-2010.