The research firm that publishes the leading U.S. economic index said Thursday it has overhauled the report to take into account big changes in the economy.
The Conference Board said it will remove several components of its index and revamp others.
Real Money Supply will be replaced by a new Leading Credit Index, retroactive to 1990, and the Supply Delivery Index will be replaced by ISM New Orders Index.
The board will also revise its consumer sentiment index and a component that measures new orders for noncapital defense.
The board said these are the first major changes to the leading economic index since 1996, and that they will take effect Jan. 26.
"These adjustments have been designed to make the U.S. Leading Economic Index an even stronger predictor of peaks and troughs in the business cycle, while recognizing changes in the functioning and drivers of the economy in the short and medium term," said Bart van Ark, chief economist at the Conference Board.
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