The Conference Board's Coincident Economic Index (CEI) for the UK rose 0.2% in February 2024 to 104.9 (2016=100), after rising 0.3% in January. In Over the six-month period from August 2023 to February 2024, the UK CEI grew by 0.6%, slightly faster than the 0.4% growth in the previous six-month period, Conference Board said in a press release.
“The UK LEI fell in February, but the six-month rate of decline has eased in recent months,” said Allen Li, deputy economist at The Conference Board. “In addition, there are fewer parts impaired, with hours worked and stock prices improving in recent months. Overall, this suggests that headwinds to economic growth in the UK may start to ease later this year. The Conference Board now predicts that annual real GDP growth will increase slightly to 0.4% in 2024, largely thanks to expected interest rate cuts.”
The UK's Conference Board LEI fell 0.3% in February 2024, reaching 75.8, after two months of stability. Meanwhile, the Coincident Economic Index (CEI) rose 0.2% in February to 104.9, with a 0.6% increase over the past six months, indicating potential for easing economic headwinds , according to The Conference Board.
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