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SOURCE The Conference Board
NEW YORK, Feb. 18, 2014 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Australia increased 0.8 percent in December to 127.7 (2004 = 100), following a 0.2 percent increase in November, and a 0.6 percent increase in October.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.1 percent in December to 123.5 (2004 = 100), following a 0.2 percent increase in both November and October.
The LEI for Australia increased in December for the fourth consecutive month, and its six-month growth rate has continued to pick up in recent months. The CEI increased for the fifth consecutive month and its six-month growth has been relatively steady. Taken together, the widespread growth in both the LEI and CEI suggests that the economy will continue to expand in the first half of 2014, and the pace of growth is likely to pick up.
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.