Leading indicators up

The Conference Board reported that the Index of Leading Indicators rose for the third month in a row.

Seven of the ten indicators that make up The Conference Board LEI for the U.S. increased in June. The positive contributors – beginning with the largest positive contributor – were interest rate spread, building permits, stock prices, weekly initial claims (inverted), average weekly manufacturing hours, index of supplier deliveries (vendor performance), and manufacturers' new orders for consumer goods and materials*. The negative contributors – beginning with the largest negative contributor – were real money supply*, manufacturers' new orders for nondefense capital goods*, and index of consumer expectations.

Maybe we are approaching recovery.

The press release is here, though its address may change when it is archived. Here is Carpe Diem's report on the release.