NEW YORK, Sept. 17, 2013 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Australia increased 0.3 percent in July to 122.6 (2004 = 100), following a 1.1 percent decline in June, and a 0.1 percent increase in May.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, declined 0.2 percent in July to 120.8 (2004 = 100), following a 1.1 percent decline in June, and no change in May.

The LEI for Australia increased slightly in July following a large decline in June, and its six-month growth rate remains stronger than during the second half of 2012. Meanwhile, the CEI has declined in the last two months through July, and as a result, its six-month growth rate has turned negative. Despite the recent weakness in the CEI, the continued growth in the LEI suggests that the current rate of economic expansion is likely to persist in the coming months.

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 membershipand research association working in the public interest. Our mission is unique: To provide the world's leading organizationswith 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.

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