In July, the WSU Leading Economic Indicators Index decreased for the second time this year, with a 0.7 percent drop from June. Five of the nine indicators experienced deterioration. The hardest hit were Kansas initial unemployment claims, which increased 35.4 percent, and the inflation-adjusted value of residential and nonresidential building permits, which decreased 27.2 percent and 49.8 percent, respectively. The indicator showing the greatest improvement from June to July was the inflation-adjusted value of new orders for aircraft and parts in the nation, which increased 25.3 percent. For the majority of the last 18 months, the Leading Index has been in an upward mode. Hopefully, July’s decline is not the beginning of a new trend.
Leading Index Hits a Bump in the Road
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