US leading index for January 2020
- LEI fell -0.3% in December and rose 0.1% in November
- This month the index rose by greater than expected 0.8% versus 0.4% estimate
- the biggest contributor was jobless claims at +0.32
- the biggest negative contributor was ISM new orders at -0.07
- the coincident index rose 0.1% in January after no change in December
- the lagging index came in unchange in January after 8-0.1% decline in December
The 0.8% gain is the highest month-to-month gain since October 2017 when the index rose 1.1%. The leading index is typically not a market moving event. However it adds to the better data seen today with Philly activity index much higher than expected and jobless claims remaining strong.
