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Iowa Leading Indicators Index posts first increase since December 2014

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The Iowa Leading Indicators Index, a measure of the state economy that is compiled by the Department of Revenue, recorded its first increase in more than a year in March, when the index rose to 105.2 from 105 in February. The last month-to-month increase was in December 2014, according to a release. Though the state economy still showed signs of a coming contraction, gains were reported in five of the eight index categories tracked by the Department of Revenue. The positive contributors were residential building permits, the Iowa stock market index, diesel fuel consumption, the national yield spread and the agricultural futures profits index, where gains in hog futures offset declines in corn and other commodities. Declines were registered in new orders and average manufacturing hours. An increase in weekly unemployment claims also was a drag on the overall index, which has declined 1.4 percent over the last six months. Read more