US leading index for July 2020
- US leading index up 1.4% vs. 1.1% estimate
- last month the index came in at 2.0% but was revised higher to 3.0%
- the index fell as low as -7.5% in March
- it was as high as 3.2% on the May rebound
The leading index include economic variables that tend to move before changes in the overall economy. In normal markets that might be a benefit. In the Covid markets with elections and other volatile inputs it could cause some pause. Nevertheless, the index remains positive (which is better than negative).
