Global Leading Indicators

For Release 10:30 AM ET, September 6, 2024

Using the Composite Indexes: The Leading Economic Index (LEI) provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term. The Coincident Economic Index (CEI) provides an indication of the current state of the economy. Additional details are below.

The Conference Board Leading Economic Index^®(LEI) for South Korea decreased by 0.3 percent in July 2024 to 108.6 (2016=100), after rising by 1.1 percent in June. As a result, the LEI slowed to 1.1 percent growth over the six-month period between January and July 2024, from 1.9 percent over the previous six-month period between July 2023 and January 2024.

The Conference Board Coincident Economic Index^® (CEI) for South Korea decreased by 0.2 percent to 107.6 (2016=100) in July 2024, after 0.1 percent in June. The CEI contracted by 0.8 percent over the six-month period between January and July 2024, partially reversing the 1.8 percent expansion over the previous six-month period.

“The South Korea LEI decreased in July after three consecutive months of increase,” said Malala Lin, Economic Research Associate, at The Conference Board. “The July decline was primarily driven by a large negative contribution from the inventory-to-shipment index. The manufacturing sector experienced sharp declines in shipment for semiconductors, computers, and other tech products after shipment surges in June. Moreover, exports (3-month moving average) decreased in July and contributed negatively to the LEI. Despite this most recent decline, the Index remained on an upward trend. Its semiannual and annual growth rates were positive and continued to signal moderate growth in the near term.”

The next release is scheduled for Tuesday, October 8, 2024, at 10:30 A.M. ET.