The nonmetallic mineral products industry leading indexincreased to 252.3 in July from 249.5 in June, its 6-monthsmoothed growth rate increased to 3.3% in July from 1.3% inJune. The 6-month smoothed growth rate is a compound annualrate that measures the near-term trend.
After declining from November 2015 through March 2016, theleading index growth rate has been above the threshold (+1.0%)that normally suggests an increase in industry activity for fourconsecutive months. In June, the average weekly hours(nonmetallic mineral products) [0.5] and the S&P stock priceindex (building products companies) [0.6] made the two largestpositive contributions to the index.
The nonmetallic mineral products industry coincident index,which measures current industry activity, increased to 145.5 inJuly from a revised 144.0 in June. Its 6-month smoothed growthrate increased to 3.2% in July from a revised 2.0% in June. Thecoincident index growth rate had declined February throughJune; the growth rate in July halted the trend. Nevertheless the growth rate of the coincident index has been above the threshold(+1.0%) that normally suggests an increase in industry activitysince May 2015. Total employee hours [0.5] and the industrialproduction index (nonmetallic mineral products) [0.4] made thetwo largest positive contributions to the coincident index. There were no negative contributions to the coincident indexin July.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/the-americas/02092016/usgs-nonmetallic-mineral-products-industry-index-for-august-2016-181/