US primary metals leading index rose in December - Survey
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Monday, 23 Jan 2012
According to the US Geological Survey, the US primary metals leading index rose in December 2011. The index, a gauge of industry activity over the next eight months, rose by 1.8% following a 1.3% gain in November 2011.
Primary Metals
| Index | Dec '11 | Nov '11 | Oct '11 | Sept '11 | Aug '11 | Jul '11 | Jun '11 |
| Leading Index | 162.7 | 159.8 | 157.8 | 157.6 | 159.2 | 159.2 | 157 |
| MoM% | 1.8% | 1.3% | 0.1% | -1.0% | 0.0% | 1.4% | 0.3% |
| YoY% | 4.7% | 4.6% | 5.9% | 7.1% | 9.4% | 10.2% | 8.7% |
| Growth Rate | 6.3% | 3.5% | 2.0% | 2.8% | 6.2% | 7.7% | 6.4% |
| Coincident Index | n/a | 107.8 | 106.4 | 104.8 | 104.1 | 104.3 | 103.8 |
| MoM% | n/a | 1.3% | 1.5% | 0.7% | -0.2% | 0.5% | 0.5% |
| YoY% | n/a | 11.2% | 11.6% | 9.9% | 9.7% | 10.1% | 9.8% |
| Growth Rate | n/a | 10.6% | 9.7% | 8.3% | 8.5% | 10.4% | 11.0% |
Steel Industry
| Index | Dec '11 | Nov '11 | Oct '11 | Sept '11 | Aug '11 | Jul '11 | Jun '11 |
| Leading Index | 113.6 | 112 | 112.2 | 113.1 | 112.5 | 111.5 | 111.4 |
| MoM% | 1.4% | -0.2% | -0.8% | 0.5% | 0.9% | 0.1% | -1.2% |
| YoY% | 1.6% | 3.3% | 4.6% | 6.5% | 6.1% | 4.2% | 1.0% |
| Growth Rate | 1.9% | -0.3% | 0.8% | 3.2% | 3.1% | 2.2% | 2.1% |
| Coincident Index | 106.6 | 104.3 | 103.3 | 103.2 | 102.2 | 103.4 | 103 |
| MoM% | 2.2% | 1.0% | 0.1% | 1.0% | -1.2% | 0.4% | 0.3% |
| YoY% | 6.3% | 7.3% | 6.2% | 7.1% | 6.8% | 6.5% | 4.7% |
| Growth Rate | 7.3% | 4.3% | 3.2% | 4.2% | 3.5% | 6.6% | 6.7% |
The leading index for primary metals tends to turn eight months before the coincident indicator. For copper and steel it tends to be seven months. The leading index of metal prices tends to indicate price changes eight months in advance. The growth rate is a six month smoothed growth rate at a compound annual rate.
(Sourced from www.bloomberg.net)
