The Conference Board Leading Economic Index® (LEI) for Australia Increases

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Dec 16, 2013, 06:00 ET

NEW YORK, Dec. 16, 2013 /PRNewswire/ --The Conference Board Leading Economic Index^® (LEI) for Australia increased 0.5 percent in October to 124.4 (2004 = 100), following a 0.3 percent increase in September, and a 0.1 percent decline in August.

At the same time, The Conference Board Coincident Economic Index^® (CEI) for Australia, a measure of current economic activity, increased 0.2 percent in October to 122.8 (2004 = 100), following a 0.2 percent increase in September, and no change in August.

The LEI for Australia increased in October for the second consecutive month, continuing its slight upward trend which started earlier this year. Its six-month growth rate has been fairly steady throughout the first three quarters. Meanwhile, the strength in the CEI has been balanced, even though its six-month growth rate moderated from the first half of the year. Taken together, the relatively steady and balanced growth in both the LEI and CEI suggests that the current rate of economic expansion is likely to continue through the first half of 2014.

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

For more information including full press release and technical notes:
http://www.conference-board.org/data/bcicountry.cfm?cid=7

For more information about The Conference Board global business cycle indicators:
http://www.conference-board.org/data/bci.cfm

About The Conference Board
The Conference Board is an independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with 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.

Summary Table of Composite Economic Indexes
			2013				6-month
	Aug		Sep		Oct		Apr to Oct

Leading Economic Index	123.4	r	123.8	p	124.4	p
Percent Change	-0.1	r	0.3	p	0.5	p	0.9
Diffusion	57.1		85.7		85.7		85.7

Coincident Economic Index	122.4		122.6	p	122.8	p
Percent Change	0.0		0.2	p	0.2	p	0.2
Diffusion	50.0		87.5		87.5		50.0

n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved