Global Leading Indicators

For Release 10:30 AM ET, July 9, 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 0.2 percent in May 2024 to 107.3 (2016=100), after remaining unchanged in April. As a result, the growth rate of LEI over the six-month period between November 2023 and May 2024 slowed to 0.6 percent from 1.9 percent over the previous six-month period.

The Conference Board Coincident Economic Index^® (CEI) for South Korea decreased by 0.1 percent to 107.7 (2016=100) in May 2024, after increasing by 1.0 percent in April. Over the six-month period between November 2023 and May 2024, the CEI contracted by 0.4 percent, after expanding by 0.6 percent over the previous six-month period.

“The South Korea LEI decreased in May,” said Malala Lin, Economic Research Associate, at The Conference Board. “All the non-financial components contributed negatively. These components, save the inventory-to-shipment index, have also weighed on the Index over the past six months while financial components have improved. Overall, the index has been relatively stable since the beginning of the year. As a result, both the six-month and annual growth rates have slowed, suggesting some moderation in economic activity going forward. Accordingly, The Conference Board forecasts real GDP to moderate after the first strong quarter in 2024 and annual growth to reach 2.6 percent in 2024.”

The next release is scheduled for Wednesday, August 7, 2024, at 10:30 A.M. ET.