Leading economic indicators (LEI) rose for the fourth consecutive month in July, with help from an improving employment and productivity picture. Still, data indicated weakness for housing and the consumer.
“The indicators suggest that the recession is bottoming out, and that economic activity will likely begin recovering soon. The Coincident Economic Index was flat in July – the first time it did not register a decline since October 2008. The Leading Economic Index, which has increased for four consecutive months, suggests that the CEI will turn positive soon.”
This greenshoot has helped pull the market higher, yet with notable weakness in consumer goods and services stocks.
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