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SOURCE The Conference Board
NEW YORK, April 21, 2014 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Australia increased 0.3 percent in February to 128.6 (2004 = 100), following a 0.2 percent increase in January, and a 0.9 percent increase in December.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.4 percent in February to 124.2 (2004 = 100), following a 0.2 percent increase in January, and a 0.1 percent increase in November.
The Conference Board LEI for Australia has been rising since September 2013, and its six-month growth rate has picked up in recent months. At the same time, The Conference Board CEI for Australia has been increasing as well, and its six-month growth rate has continued to improve. Taken together, the current behavior of the composite indexes suggests that economic expansion will continue in the near term, and the pace of growth in unlikely to slow in the near term.
About The Conference Board Leading Economic Index® (LEI) for Australia The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading and coincident economic indexes are essentially composite averages of several individual leading or coincident indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.
The seven components of The Conference Board Leading Economic Index® for Australia include:
Yield Spread, 10 year minus Policy Rate Share Prices, All Ordinaries Money Supply, M3 Rural Goods Exports Sales to Inventory Ratio Gross Operating Surplus, Private Non-Financial Corporations Building Approvals
About The Conference Board The Conference Board is an independent business membershipand research association working in the public interest. Our mission is unique: To provide the world's leading organizationswith the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.