Leading economic indicators down in July

The index of leading indicators, which gauges the economic outlook for the next three to six months, fell 0.7%.
AUG 21, 2008
By  Bloomberg
The Conference Board’s index of leading indicators, which gauges the economic outlook for the next three to six months, fell 0.7% in July. The New York-based Conference Board also revised the June figure up to no change, compared to the initially estimated 0.1% decrease. “We have had a very weak economy and we will see more of the same going forward,” said Ken Goldstein, labor economist at the Conference Board. “We are so weak because households are down to spending money [at a] bare minimum and business has been in the same boat.” The index has declined 1.8% over the past six months, with seven components of the index falling during that period. Five of the 10 indicators included in the index declined in July, including building permits, stock prices and initial jobless claims. The negative data was offset by positive contributions from the interest rate spread and consumer expectations. The coincident index, which measures current economic conditions, rose 0.1% in July, following a 0.1% increase in June. In the past six months the coincident index has fallen 0.4%. “The forces that brought the U.S. economy to its knees stretch across the globe and it might get worse before it gets any better,” Mr. Goldstein said.

Latest News

RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence
RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence

Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.

Top Commonwealth advisor to recruiters: Stop with the cold calls already!
Top Commonwealth advisor to recruiters: Stop with the cold calls already!

“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.

Blue Owl Capital, Voya strike private market partnership for retirement plans
Blue Owl Capital, Voya strike private market partnership for retirement plans

The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.

Why AI notetakers alone can't fix 'broken' advisor meetings
Why AI notetakers alone can't fix 'broken' advisor meetings

Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."

Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit
Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit

The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.