Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Conference Board numbers bode well for summer
WASHINGTON (4/22/14)--The Conference Board Leading Economic Index (LEI), which broadly gauges the economic outlook for the next three to six months, jumped 0.8% in March, exceeding analyst expectations and building on the 0.5% upward movement seen in February ( Economy.com April 21).

Financial components--such as the interest-rate spread and credit index--and average weekly manufacturing hours led the gains. Lower consumer expectations and weaker building permit numbers held the index back from an even stronger showing. 

Six out of the 10 components rose, according to Moody's.

"The LEI rose sharply again, the third consecutive monthly increase," said Ataman Ozyildrim, economist, The Conference Board ( PR Newswire April 21). "After a winter pause, the leading indicators are gaining momentum and economic growth is gaining traction ... For the first time in many months, the consumer outlook is much less negative."

The improved LEI also suggests accelerated growth for the remainder of the spring and the summer, added Ken Goldstein, economist with The Conference Board.

Further, the coincident indicator, which tracks nonfarm payrolls, industrial production, personal income and trade sales, climbed 0.2%, after a 0.4% increase in February. 

"The economy is picking up momentum after a slow start and a weak first quarter," Stuart Hoffman, PNC Financial Services Group Inc. chief economist, told Bloomberg (April 21). "There's definitely more going up then down."


RSS print
News Now LiveWire
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
6 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
7 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
8 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
8 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
8 hours ago