Tags: Trump Administration | leading | indicators | trump | tax | cut

Leading Indicators Rise, Set to Continue Momentum on Trump Tax Cut

Leading Indicators Rise, Set to Continue Momentum on Trump Tax Cut
(Melinda Fawver/Dreamstime)

By    |   Thursday, 25 January 2018 02:31 PM

An important economic indicator surged more than expected in December and President Donald Trump's landmark tax cut will likely push it even higher in the near future, experts say.

Leading indicators rose 0.6 percent in December, more than the 0.5 percent expected by economists surveyed by Reuters. The index rose 0.4 percent in November, coming in line with expectations.

"The passing of the tax plan is likely to provide even more tailwind to the current expansion," Conference Board research director Ataman Ozyildirim said in a statement.

The Index of Leading Economic Indicators is a closely followed indicator used to forecast global economic trends and take a pulse on the U.S. economy. The Conference Board determines a composite value based on 10 key metrics, including manufacturers' new orders, stock prices and average weekly unemployment claims to create the composite value.

The index is a closely followed indicator for how healthy the U.S. economy is, CNBC explained.

For his part, Trump arrived in Switzerland on Thursday to attend the World Economic Forum where he will push his “America First” agenda and seek more fair, reciprocal trade between the United States and its allies, Reuters explained.

Trump arrived in Zurich en route to the Swiss ski resort of Davos for two days of events culminating in a speech on Friday to the forum of business and political leaders.

Trump, never invited as a businessman, will be the first U.S. president to attend Davos since Bill Clinton in 2000, giving him a chance to mingle with the same elite “globalists” he bashed in the 2016 election campaign.

“Will soon be heading to Davos, Switzerland, to tell the world how great America is and is doing,” Trump tweeted before departure. “Our economy is now booming and with all I am doing, will only get better...Our country is finally WINNING again!”

White House aides said Trump’s message would be the same that he has given during other trips aboard over the past year: The United States wants strong ties with its allies but wants to reduce chronic trade deficits with many of them.

“America first is not America alone,” said White House senior economic adviser Gary Cohn, who is traveling with Trump. “When we grow, the world grows; when the world grows, we grow. We’re part of it, and we’re part of a world economy. And the president believes that.”

(Newsmax wire services contributed to this report).

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A key economic indicator rose more than expected in December to build on momentum from the previous month.
leading, indicators, trump, tax, cut
Thursday, 25 January 2018 02:31 PM
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