UK's Economic Indicators Show Mixed Signals in June

The United Kingdom’s economic outlook is sending mixed signals, as the latest data indicates nuanced changes in the country’s leading indicators. In June 2024, The Conference Board saw the Leading Economic Index for the UK decreasing by 0.1 percent, giving a final result of 75.6. This is the second month in a row when this particular indicator has decreased by this amount, as it demonstrated an identical trend in May. As a result, the LEI for the UK contracted by a total of 0.5 percent over the initial six months of 2024.

Counterintuitively, the computation of this index’s current conditions based on the result of six key economic indicators is more favorable. According to the Conference Board, the Coincident Economic Index for this economically developed European country grew by 0.1 percent, with a final outcome of 104.8. This is an improvement from the preceding month’s performance of 0.4 percent, leading to a growth of 0.5percent over the entire first half of the year. It is worth nothing here that this is a significant step up from the index’s stagnation between July and December 2023 and pinpoints the ambivalence of the UK’s leading indicators drain.