(RTTNews) - The Conference Board, a leading business research organization, released its report on leading economic indicators in the month of August on Thursday, showing that its leading indicators index decreased by more than economists had been anticipating.

The report showed that the leading indicators index fell by 0.5 percent in August following an unrevised 0.7 percent decrease in July. On average, economists had been expecting a more modest decrease of about 0.2 percent.

The bigger than expected decrease by the index reflected negative contributions from supplier deliveries, building permits, jobless claims, manufacturing hours, new orders for non-defense capital goods, and real money supply.

The Conference Board noted that positive contributions from the interest rate spread, consumer expectations, stock prices, and new orders for consumer goods and materials helped to partly offset the decrease.

Additionally, the report showed that the coincident index edged down 0.1 percent in August after coming in unchanged in July. The modest decrease reflected a sharp drop in industrial production as well as continued weakness in employment.

At the same time, the lagging index increased by 0.4 percent in August, matching the increase in the previous month. Positive contributions from commercial and industrial loans outstanding and the ratio of consumer installment credit to personal income contributed to the increase.

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Posted in Categories: Economy, Forex, Releases, USA.

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