Iowa economic index remained stagnant in June
The Iowa Leading Indicators Index remained unchanged in June from a revised 108.7 in May, the value of the index since March, the Iowa Department of Revenue said. Revisions to the May figure occurred after Iowa State University released revised historical grain break-even prices, which affected the level of the agricultural future profits index over the last year. With five of the eight components contributing negatively, the monthly diffusion index dropped to 43.8 in June from 62.5 in May. The annualized six-month change was a decrease of 0.3 percent in June from a revised 0.4 percent gain in May, reflecting weakness among the indicators going into the summer compared with the gains seen last fall and marking the first negative negative signal in that index measure in two years. The six-month diffusion index decreased to 50 in June. Three of the eight index components were in positive territory in June. Those were the agricultural futures profits index, the diesel fuel consumption and the Iowa stock market index.