The U.S. leading economic index (LEI) declined slightly in June, according to data published by the Conference Board Monday.
The LEI dropped by 0.2 percent in June but was down by only 0.3 percent over the first half of this year. That's a much smaller rate of decline than its 1.1 percent contraction over the second half of last year, the Conference Board's report found.
The LEI is a predictive tool designed to signal turning points in the business cycle. By measuring 10 key economic components, including stock prices, building permits and consumer expectations, it indicates where the broader economy is heading in the near term.
A consistent rise in the LEI indicates approaching economic expansion, while a sustained decline suggests slowing growth and increased recession risk.
US leading economic index drops marginally in June
A China Coast Guard (CCG) spokesman announced that, out of humanitarian considerations, Chinese authorities on Tuesday morning permitted the transfer of injured personnel from a Philippine vessel that was illegally "grounded" at China's Ren'ai Jiao in the South China Sea.
Jiang Lue, spokesman for the CCG, said the transfer, under the monitoring of the Chinese side, was conducted via a small boat of a Philippine vessel.
The transfer came a day after Philippine personnel from the illegally grounded Philippine ship LT-57 carried out a malicious provocation, attacking a CCG patrol boat with oars, poles and other tools and injuring a CCG officer's right arm. The CCG responded with maximum restraint, taking lawful measures to stabilize the situation.
The CCG will continue to carry out law-enforcement activities to safeguard China's territorial sovereignty and maritime rights and interests at Ren'ai Jiao and its surrounding waters in accordance with the law, the spokesman added.
China permits injured Philippine personnel transfer from illegally grounded vessel
