The Conference Board Leading Economic Index was released today, jumping 1.4% in March, capping six straight months of increases and reaching what the Conference Board calls “its highest level.”
It’s nice to see a quantitative chart blending multiple data points that ticks up strong strongly.
As is consistently the case in this economic recovery, employment will be a primary driver of continued performance.
Adds Ken Goldstein, economist at The Conference Board: “The indicators point to a slow recovery that should continue over the next few months. The leading, coincident and lagging series are rising. Strength of demand remains the big question going forward. Improvement in employment and income will be the key factors in whether consumers push the recovery on a stronger path.”
Regardless, this is a nice bit of momentum to head into the summer with.
by drm on October 27, 2009
The Consumer Confidence index is slipping, and I think it’s related to a decline in confidence in our political leadership.
Says Lynn Franco, Director of The Conference Board Consumer Research Center: “Consumers’ assessment of present-day conditions has grown less favorable, with labor market conditions playing a major role in this grimmer assessment. In fact, the Present Situation Index is now at its lowest reading in 26 years (Index 17.5, Feb. 1983). The short-term outlook has also grown more negative, as a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead. Consumers also remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays.”
The Conference Board numbers aligned with BIGResearch’s October update.
One factor that may be influencing overall consumer confidence? A decline in people’s sense that our political leadership will be able to accelerate our path out of the economic slump.
Here are two sources for Obama’s approval ratings. Both show an intensifying skepticism and disapproval.
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