Not too bad, not too good. That's what the economic signs seem to indicate according to the AP. According to The Conference Board, a New York research group:
Six out of the ten indicators that comprise the leading index rose in June — the biggest positive contributor was a decline in average weekly initial claims for unemployment insurance, followed by the index of consumer expectations, real money supply, average weekly manufacturing hours, interest rate spread and manufacturers’ new orders for new nondefense capital goods.
The Index of Leading Economic Indicators is designed to help predict economic activity three to six months in the future. Hope their crystal ball is right.
“It doesn’t tell us that the economy is in trouble or roaring ahead,” said David Resler, chief economist at Nomura Securities in New York.
It just keeps chugging away.
Resler said the most encouraging sign in the June data was continued improvement in the average workweek. “That’s an indication that the labor market remains healthy and seems to be helping consumer confidence,” he said.
Things like building permits, lower stock prices and manufacturers' new orders for consumer goods and materials were the drags on the economy. But not enough to worry the "experts". Or the real experts: Business owners.
Bully!
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