The Conference Board Leading Economic Index for China is not usually an immediate FX market mover

Leading Index for China +0.9% in July

  • +0.6% in June
  • +1.1% in May
  • Total loans issued by financial institutions made the largest positive contribution to the index

(well, that's just peachy)

  • Followed by the 5000 industry enterprises diffusion index: raw materials supply index, and total floor space started (... ditto ...)
  • The consumer expectations index, The PMI new export orders index, and the (inverted) PMI supplier delivery index declined in July.

"July's gain in the Leading Economic Index for China was driven mainly by bank loans, while consumer sentiment, manufacturing, and exports were all weak," Said Jing Sima, senior economist at The Conference Board. "Despite the gain, the increased volatility in the LEI, lack of strength in the real economy, and recent turmoil in China's stock and currency markets suggest that China's economy will be facing increasing downside risks in the months ahead."

Coincident Economic Index:

  • +1.1% in July
  • +0.2 percent increase in June
  • +0.6 percent increase in May
  • Four of the five components contributed positively to the index in July