116 3rd St SE
Cedar Rapids, Iowa 52401
Iowa Leading Indicators point to improved growth
George C. Ford
Jun. 5, 2014 4:00 am
Iowa's Leading Indicators Index increased in April as building permits, future agricultural prices and diesel fuel consumption registered positive gains.
The index, compiled by the Iowa Association of Business and Industry, rose from 108 in March to 108.5 in April, the largest increase since February 2011. The monthly diffusion index increased to 81.3, with seven of the eight components experiencing positive changes.
Employment growth continued in April for the 43rd consecutive month with the relatively strong 0.16 percent monthly growth.
The 12-month moving average of residential building permits increased in April for the second month to 934.
The monthly value of 1,496 total permits is the second highest since May 2006. The number of building permits has increased in seven of the last 12 months.
The agricultural futures profits index was a positive contributor to the overall index for the second month in a row after being a negative contributor for over two years. Futures contract hog prices jumped 45.2 percent for the month over last year, primarily because of concerns about the PEDv disease.
Diesel fuel consumption, a measure of semi-truck traffic within and across Iowa, increased 5.1 percent in April, the strongest year-over-year change since July 2011.