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Begin New Search Topic Economics Content Type Policy Brief Publishing Institution The Conference Board

1. Building Infrastructure in Real Time: Avoiding Regulatory Paralysis

Author:
Committee for Economic Development of the Conference Board
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The physical infrastructure base of the US economy, once an advantage in global competition, has become a liability. This problem has multiple causes, several of which CED has addressed in recent policy statements, and our nation’s elected policymakers are now taking up the need for additional funding. But the nation needs not only adequate funding but also a more-efficient regulatory process for our infrastructure investment—choosing the right projects, with the minimum delay, and executing them at the least possible cost. Regulatory paralysis is one of the causes of our infrastructure shortfall. It needs attention if we are going to spend our tax dollars on infrastructure wisely and efficiently so that the US economy remains globally competitive. Streamlining regulatory procedures, promoting competition, and cutting red tape across federal, state, and local governments are key to increasing investment, decreasing cost, and maximizing efficiency. Business as usual will not suffice. It takes too long and costs too much to deliver infrastructure projects, preventing us from achieving the advancements and improvements that a future-focused, competitive economy requires. CED has consistently advocated “smart regulation,” subjecting new regulations to rigorous cost-benefit analysis and reviewing existing regulations for continuing cost effectiveness to enhance efficiency and achieve quicker execution, greater benefits, and lower costs. With long delays between project conception and execution, and often multiple layers of jurisdiction and review, a smart regulation approach could ensure that the rules governing review and permitting of projects address all important concerns and ensure that net benefits are maximized over time at all levels of government on a comprehensive and timely basis.
Topic:
Economics, Infrastructure, Governance, Regulation, Business, Economic Policy, and Strategic Competition
Political Geography:
North America and United States of America

2. Annual Social Security and Medicare Trustees Report Reflects Worsening Economic Environment

Author:
Committee for Economic Development of the Conference Board
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Trustees of the Social Security and Medicare Trust Funds are required by law to produce an annual report on April 1 of each year. It is by no means a shock that the report is late in any year; it happens often. This year, however, there is probably more of a justification that the report was released only yesterday, five months late. The economic and health care environments are perhaps as chaotic and uncertain as they have been in living memory.
Topic:
Economics, Health Care Policy, and Social Security
Political Geography:
North America and United States of America

3. Today’s Infrastructure Improvements Will Drive Tomorrow’s Economy

Author:
Committee for Economic Development of the Conference Board
Publication Date:
03-2020
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
Few issues enjoy such broad bipartisan consensus as the failings of American infrastructure. Roughly two-thirds of Americans rate their own local roads as only in fair or poor condition, and a similar proportion say that the country is not doing enough to meet infrastructure needs, making infrastructure a top-tier issue in 2020. With Treasury Secretary Steven Mnuchin signaling that infrastructure spending is a priority for the administration if economic stimulus is required to address slowdowns in the economy due to COVID-19, the US approach to infrastructure projects is poised to become an even more pressing issue. Modern, effective infrastructure is an essential requirement for national commerce—and for growing and widely shared prosperity—even as changes in technology drive changes in infrastructure requirements. While definitions vary, a 2019 Trump administration executive order defined infrastructure projects as those relating to surface transportation; aviation; ports; water resources projects; energy production, generation, storage, transmission, and distribution; broadband internet; pipelines; stormwater and sewer infrastructure; drinking water infrastructure; and cybersecurity. Efficient investment in cutting-edge infrastructure connects businesses and workers to more opportunities, increases productivity, and undergirds American competitiveness. Thus, US infrastructure is vital to sustain capitalism and maintain US economic leadership. However, the US routinely lags other advanced nations in infrastructure quality and, when considering the size of its economy, infrastructure investment.
Topic:
Economics, Infrastructure, and Economy
Political Geography:
North America and United States of America

4. Composite Indexes of Leading, Coincident, and Lagging Indicators: May 2003

Publication Date:
05-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index increased 1.0 percent, the coincident index increased 0.1 percent, and the lagging index decreased 0.1 percent in May.The leading index increased sharply in May following a slight gain in April. This increase was largely due to stock prices, real money supply, and consumer expectations, but most other components also increased slightly. It is possible that these two consecutive increases reflect the beginning of an upward trend, thereby ending the flat trend that began in early 2002.The strength in the leading indicators has become more widespread as shown by a pick-up in the diffusion indexes, which measure the proportion of the components that are rising. The one- and six-month diffusion indexes are now at or above fifty percent, up from lower levels earlier in the year. The coincident index, a measure of current economic conditions, increased modestly in May after holding steady in the previous two months. The coincident index remained essentially flat in the second quarter, but is likely to increase in the second half of the year reflecting the recent gains in the leading index.
Topic:
Economics and Political Economy
Political Geography:
United States

5. Composite Indexes of Leading, Coincident, and Lagging Indicators: April 2003

Publication Date:
04-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index increased 0.1 percent, the coincident index decreased 0.1 percent, and the lagging index decreased 0.5 percent in April.After declining in February and March, the leading index increased slightly in April. Since early 2002, the leading index has been fluctuating around a flat trend. This is consistent with real GDP growth continuing to fluctuate around a 2% to 2.5% average annual rate.Despite rebounding financial indicators and consumer expectations, there is still weakness in the labor market and manufacturing indicators. Weakness in these components reflects the recent declines in manufacturing capacity utilization.The coincident index, a measure of current economic conditions, decreased in April after holding steady in March. The slight decline in the coincident indicators in April is consistent with the weakness in the leading index in the first quarter of 2003.
Topic:
Economics and Political Economy
Political Geography:
United States

6. Composite Indexes of Leading, Coincident, and Lagging Indicators: March 2003

Publication Date:
03-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index decreased 0.2 percent, the coincident index held steady, and the lagging index decreased 0.1 percent in March.The leading index declined for a second consecutive month in March, but the information available so far in April suggests that these declines will not continue. The leading index has been fluctuating around a flat trend since December 2001.The flatness in the leading index suggests that U.S. real GDP growth will stay in the 2-3% range for now. As long as economic growth is constrained in this range, the labor market cannot improve.The coincident index has been essentially flat in recent months with gains in income and sales offset by weakness in employment and industrial production. With economic growth at or slightly below potential, the coincident index is unlikely to grow strongly.
Topic:
Economics and Political Economy
Political Geography:
United States

7. Composite Indexes of Leading, Coincident, and Lagging Indicators: February 2003

Publication Date:
02-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index decreased 0.4 percent, the coincident index held steady, and the lagging index decreased 0.1 percent in February.The leading index fell in February for the first time since September 2002. Uncertainty over war in Iraq, as well as severe winter weather in February, is reflected in the widespread weakness, particularly in stock prices, consumer expectations, and the labor market. Some of these weaknesses have persisted through March.More generally, the leading index has been fluctuating around a flat trend over the past 15 months with a balance between rising and falling components. The index fell in the third quarter of 2002, rose in the fourth quarter, and is now declining again in the first quarter.After flattening in the fourth quarter of last year, the coincident index, a measure of current economic activity, increased 0.2 in January and held that level in February (with a decline in employment offsetting the gains in income, production, and sales). At this point, the leading index is suggesting that economic growth may be on the sluggish side in the second quarter.
Topic:
Economics and Political Economy
Political Geography:
United States and Iraq

8. Composite Indexes of Leading, Coincident, and Lagging Indicators: January 2003

Publication Date:
01-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index decreased 0.1 percent, the coincident index increased by 0.2 percent, and the lagging index decreased 0.1 percent in January.A sharp drop in claims for unemployment insurance offset the weak expectations of consumers in January. The leading index remains well above its peak prior to the 2001 recession and just below the previous high achieved in May 2002.The coincident index turned up again in January after pausing in the last quarter of 2002. This month's increase in the coincident index, the largest in six months, is consistent with the gains in the leading index late last year and reflects better current conditions in the beginning of this year.Barring any shock or prolonged uncertainty in the Middle East, the leading and coincident indexes point to a more robust pace of economic activity in the coming months.
Topic:
Economics and Political Economy
Political Geography:
United States

9. Composite Indexes of Leading, Coincident, and Lagging Indicators: December 2002

Publication Date:
12-2002
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index increased by 0.1 percent, the coincident index held steady, and the lagging index decreased 0.3 percent in December.After declining from May through September 2002, the leading index has now improved for three straight months, suggesting a stronger economic recovery in the first half of 2003.The negative contribution from unemployment insurance claims in December was more than offset by the positive contributions from housing permits, average manufacturing workweek, and consumer expectations. The leading index has almost regained its level in May 2002, or when it started to decline.The coincident index, a measure of current economic activity, was flat in each of the last three months of 2002. But it\'s still 0.8 percent above its cyclical low reached in November 2001.
Topic:
Economics and Political Economy
Political Geography:
United States

10. Composite Indexes of Leading, Coincident, and Lagging Indicators: November 2002

Publication Date:
11-2002
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index increased by 0.7 percent, the coincident index increased by 0.1 percent, and the lagging index decreased 0.2 percent in November.This month's gain in the leading index is the largest since December of last year. With this increase, the index has now recovered its losses since May 2002, and is nearly 3.6 percent above its most recent trough in March 2001.Strength in the financial sector - coupled with a rebound in consumer expectations and a decline in unemployment insurance claims - contributed to the increase in the leading index this month.The coincident index, a measure of current economic activity, increased modestly in November. Despite this increase, the coincident index remains essentially flat since July 2002, reflecting a sluggish recovery from the last recession.
Topic:
Economics and Political Economy
Political Geography:
United States