The Conference Board Leading Economic Index® (LEI) for the U.S. increased 1.4 percent in July to 104.4 (2016 = 100), following a 3.0 percent increase in June and a 3.1 percent increase in May.

"The US LEI increased for the third consecutive month in July, albeit at a slower pace than the sharp increases in the previous two months," said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. "Despite the recent gains in the LEI, which remain fairly broad-based, the initial post-pandemic recovery appears to be losing steam. The LEI suggests that the pace of economic growth will weaken substantially during the final months of 2020."

The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 1.2 percent in July to 99.2 (2016 = 100), following a 2.9 percent increase in June and a 2.4 percent increase in May.

The Conference Board Lagging Economic Index® (LAG) for the U.S. decreased 1.0 percent in July to 109.2 (2016 = 100), following a 2.3 percent decline in both June and in May.

About The Conference Board Leading Economic Index^® (LEI) for the U.S.
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging 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 ten components of The Conference Board Leading Economic Index^® for the U.S. include:

Average weekly hours, manufacturing
Average weekly initial claims for unemployment insurance
Manufacturers' new orders, consumer goods and materials
ISM® Index of New Orders
Manufacturers' new orders, nondefense capital goods excluding aircraft orders
Building permits, new private housing units
Stock prices, 500 common stocks
Leading Credit Index™
Interest rate spread, 10-year Treasury bonds less federal funds
Average consumer expectations for business conditions