The Leading Economic Index continues to advance

The Conference Board’s Leading Economic Index (LEI) exceeded economists’ expectations by jumping +0.9% in August.  Furthermore, the monthly gain in the LEI accelerated to a three-month high as its leading components shrugged off concerns regarding persistent inflation and the COVID-19 Delta variant.  While some warning flags have started to emerge in the macroeconomic and technical data, resilience in the LEI is reason for cautious optimism.