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Britain's leading indicators slipped in June

Aug. 9, 2013 at 10:26 AM   |   Comments

LONDON, Aug. 9 (UPI) -- The Leading Economic Index for Britain fell in June after five consecutive monthly increases, the Conference Board said Friday.

Following a 0.2 percent gain in April and a 0.4 percent gain in May, the index dropped 0.2 percent in June to reach 104.8.

The index assigns a base value of 100 to the year 2004 to provide a reference point.

In June, four out of seven component indexes made gains in the month, including gains in equity markets and business and consumer confidence.

Despite the overall decline, " improvements in equity markets, business, and consumer sentiment in July suggest that the U.K. economic recovery is still ongoing," said Conference Board economist Brian Schaitkin in a statement.

"However, declines in income and employment so far this year demonstrate that labor markets may under-perform relative to output over the short term after a long period of flat to negative productivity growth," Schaitkin said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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