Analytica
Iceland Leading Indicator — Increase for the Third Month in a Row
DGAP-News: Analytica 18.12.2014 / 19:38 --------------------------------------------------------------------- REYKJAVIK, Iceland, 2014-12-18 19:38 CET (GLOBE NEWSWIRE) -- The Iceland Composite Leading Indicator (CLI) rose by 0.5 percent in November for the third month in row. The CLI hints at growth picking up in early 2015. Economic growth during the first nine months of the year fell short of general expectations. However, this comes as no surprise given the developments of some of the individual CLI components, in particular the slow growth in the inflation adjusted debit card turnover. The rise in import volumes to some extent reflects the fast pace of growth in the number of tourists which in turn is reflected in service exports. Tourism is still growing at a brisk pace. This together with the increase in fish catches is driving the current CLI rise. Turning points of the CLI tend to precede turning points in economic activity relative to trend by approximately six months. Economic activity is measured by Gross Domestic Product (GDP) published by the Statistical Bureau of Iceland. The calculation of Analytica's CLI is based on methodology adopted by the OECD. There are six components of Analytica's CLI. These are: Fish catches, inflation adjusted debit card turnover, number of tourists visiting Iceland, the MSCI World equities index, inflation adjusted imports and the Gallup Index of Consumer Confidence. For November four of the six underlying components are strengthening year on year. However, two of the six components rise on the previous month. Table 1 shows the development of the CLI during the past twelve months. The value for November rises by 0.5 percent on the month to 101.6. This value serves as an indicator to economic activity six months into the future, i.e. May 2015. A value of 100 indicates GDP in line with its long term trend. Table 1. Analytica's CLI 2013-2014 Change in % Indication ----------------- Index on month YOY for month ----------------------------------- 2013 November 101.7 -0.1% 0.9% May 2014 December 101.5 -0.2% 0.9% June 2014 January 101.3 -0.2% 0.7% July February 101.2 -0.1% 0.5% August March 101.3 0.0% 0.3% Sept. April 101.2 -0.1% 0.1% Oct. May 101.0 -0.2% -0.1% Nov. June 100.8 -0.2% -0.4% Dec. July 100.5 -0.2% -0.7% Jan. 2015 August 100.5 0.0% -0.9% Feb. September 100.7 0.2% -0.9% March October 101.1 0.4% -0.7% April November 101.6 0.5% -0.1% May The December Composite Leading Indicator is scheduled for release on January 20, 2015. Further information is provided by Analytica's CEO, Mr. Yngvi Hardarson Tel. +354 5278890 - email: yngvi@analytica.is News Source: NASDAQ OMX --------------------------------------------------------------------- 18.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Analytica United States ISIN: US9902633034 End of News DGAP News-Service --------------------------------------------------------------------- 307309 18.12.2014
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden