Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Economic Watch: Indicators, Existing Home Sales, Manufacturing Jump

The latest measure on the condition of the U.S. economy and where it's heading shows improvement again, according to the private research group The Conference Board.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
August 21, 2014
Economic Watch: Indicators, Existing Home Sales, Manufacturing Jump

 

4 min to read


The latest measure on the condition of the U.S. economy and where it's heading shows improvement again, according to the private research group The Conference Board.

Its Leading Economic Index increased 0.9% in July to 103.3, following a 0.6% increase in June and a 0.6% increase in May.

Ad Loading...

“The LEI improved sharply in July, suggesting that the economy is gaining traction and growth should continue at a strong pace for the remainder of the year,” said Ataman Ozyildirim, economist at The Conference Board. “Although housing has been one of the weakest components this year, the sharp gain in building permits helped boost the LEI in July. Financial markets and labor market conditions have also supported recent gains, but business spending indicators remain soft and their contribution marginal.”

The performance was better than a consensus forecast by economists.

“Although retail sales were a little disappointing, hiring and industrial activity improved," said Ken Goldstein, economist at The Conference Board. "July’s increase in the LEI, coupled with its accelerating growth trend, points to stronger economic growth over the coming months."

Ad Loading...

A separate report shows existing-home sales increased in July to their highest annual pace of the year, according to the National Association of Realtors.

Existing-home sales rose to a seasonally adjusted annual rate of 5.15 million in July, up 2.4% from a slight downwardly revised 5.03 million in June. Sales are at the highest pace of 2014 and have risen four consecutive months, but remain 4.3% below the level from last July, which was the peak of 2013.

Lawrence Yun, NAR chief economist, said sales momentum is slowly building behind stronger job growth and improving inventory conditions.

“The number of houses for sale is higher than a year ago, and tamer price increases are giving prospective buyers less hesitation about entering the market,” he said. “More people are buying homes compared to earlier in the year and this trend should continue with interest rates remaining low and apartment rents on the rise.”

Yun did warn that affordability is likely to decline in upcoming years. “Although interest rates have fallen in recent months, median family incomes are still lagging behind price gains, and mortgage rates will inevitably rise with the upcoming changes in monetary policy,” he said. 

Ad Loading...

Single-family home sales increased 2.7% but remain 4.2% below the pace a year ago. Existing condominium and co-op sales remained unchanged in July from June and are 4.8% below the pace a year ago.

Regionally, July existing-home sales in the Northeast were at the same level as the month before but are 9.9% below a year ago. In the Midwest, existing-home sales increased 1.7%, but remain 4.7% below July 2013. Existing-home sales in the South rose 3.4% and are now up 0.5% from July 2013, while in the West they climbed 2.6% in July but remain 8.6% below a year ago.

A third economic indicator, the Flash U.S. Manufacturing Purchasing Managers’ Index from the financial information services provider Markit, registered 58 in August, up sharply from 55.8 in July and the highest reading for over four years.

The index is designed to signal changes in prevailing business conditions in the U.S. manufacturing sector. Readings above 50 signal an improvement in business conditions, while below 50 indicates deterioration.

It shows a further steep rise in production levels across the manufacturing sector. The rate of output growth picked up slightly since July and was one of the fastest seen over the past four years. Survey respondents mainly cited improving domestic economic conditions and an associated upturn in client spending.

Ad Loading...

Manufacturers also benefitted from a solid rebound in new export orders in August, with the pace of expansion picking up from July’s six-month low, while the latest increase in new business from abroad was the steepest for three years.

“August’s survey delivers further evidence that robust manufacturing growth momentum has been sustained through the third quarter, with overall business conditions improving at the fastest pace for over four years,” said Tim Moore, senior economist at Markit.

“Overall, with job hiring gathering momentum and input buying expanding at the sharpest pace for at least seven years, it seems U.S. manufacturers are increasingly confident that the recovery is firmly back on track and are gearing up for a sustained rebound in production schedules over the months ahead.”

More Fleet Management

Illustration of a chalkboard with a hand drawing an arrow curving away from a partially erased straight arrow with the words "Embracing Change," the Heavy Duty Trucking Logo and the "cover feature" graphic.
Fleet Managementby Deborah LockridgeAugust 1, 2026

How Innovative Trucking Leaders Turn Change Into an Advantage

As the pace of change accelerates in trucking, the fleets that adapt best have more than the latest technology. They have cultures that embrace improvement.

Read More →
Illustration of past due invoices with red X on top with background of a truck at a loading dock
Fleet ManagementJuly 27, 2026

Freight Broker Bonds Just Got Harder to Get. Here's What That Means for Your Fleet.

When it gets harder for a freight broker to prove they are financially sound, the ones who cannot clear that bar get pushed out of the market. And those are exactly the brokers who used to leave motor carriers holding the bag.

Read More →
Photo of cable bridge crossing Detroit River
Fleet Managementby Deborah LockridgeJuly 23, 2026

Long-Awaited Canadian Border Bridge to Open in Detroit

For trucking, the bridge opening should offer immediate improvements in efficiency and reliability, with new customs facilities, expanded inspection capacity, and direct freeway-to-freeway connections.

Read More →
Ad Loading...
Blue International heavy-duty truck with Aurora driverless truck software coming head-on on an interstate highway
Equipmentby Deborah LockridgeJuly 22, 2026

Aurora Rolls Out Next Generation of Driverless Trucks for Commercial Freight

Aurora's latest autonomous trucks it's rolling out with International feature lower-cost hardware designed for a million miles as the company expands commercial driverless freight operations across the U.S. Sun Belt.

Read More →
American Trucking Associations for-hire tonnage graph
Fleet Managementby Deborah LockridgeJuly 21, 2026

Freight Tonnage Down, Rates up, as Lower Capacity Powers Trucking Recovery

The recovery from the freight recession continues to be driven by reduction in capacity rather than by increased demand.

Read More →
Cyberstop column header depicting images of ChatGPT prompt on a smartphone and shadowy hooded figure
Fleet Managementby Ben WilkensJuly 17, 2026

Think Your Trucking Fleet Isn't Using Much AI? Think Again

Shadow AI — the use of unauthorized artificial intelligence tools at work — is becoming increasingly common, putting sensitive company data at risk. Learn how trucking fleets can protect sensitive data while embracing AI.

Read More →
Ad Loading...
Photo of semi trucks with Panther, ArcBest, and ABF trailers backed up to docks, with ArcBest logo superimposed on top
Fleet Managementby Deborah LockridgeJuly 17, 2026

ArcBest Consolidates Brands, Cuts Workforce

The company will bring three business units under the ArcBest brand, eliminate about 2% of positions, and expects the changes to generate $40 million in annual savings.

Read More →
Cover of ATRI operational costs study with graph clip art and photo of trucks on highway in the background
Fleet Managementby Deborah LockridgeJuly 15, 2026

Trucking Fleets Faced Record Operating Costs During Third Year of Freight Recession

ATRI's annual operational cost report shows carriers trimmed fleets, delayed equipment purchases, and ran older trucks as expenses continued to outpace freight rates.

Read More →
Micheline AI Assistant.

Michelin Adds AI Assistant to MyConnectedFleet Platform

Michelin’s new generative AI tool delivers instant fleet insights, helping managers analyze fuel use, tire maintenance, vehicle status, and operational performance without manually creating reports.

Read More →
Ad Loading...
LytxOne Platform.

LytxOne Platform Now Features AI, Compliance, and Asset Tracking Tools

New enhancements add AI-powered insights, asset tracking, compliance automation, and configurable privacy controls to Lytx's all-in-one fleet management platform.

Read More →