The Conference Board Leading Economic Index® (LEI) for the U.K. decreased 0.3 percent in July to 111.5 (2010= 100), following a 0.3 percent decline in June, and a 0.5 percent decline in May.
At the same time, The Conference Board Coincident Economic Index® (CEI) for the U.K., a measure of current economic activity, increased 0.1 percent in July to 105.7 (2010 = 100), following no change in June and a 0.2 percent increase in May.
The LEI for the U.K. has declined for three consecutive months, and as a result its six-month growth rate has become negative. Meanwhile, the CEI has been stagnant this year, and as a result its six-month growth rate has moderated considerably. Taken together, the current behavior of the composite indexes suggests that the economy is likely to continue to grow in the short-term, but the pace is unlikely to pick up.
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