What exactly? A composite index (1992 = 100) of ten economic indicators designed to predict economic activity six to nine months in future. These indicators include:
The average manufacturing-worker workweek (from the employment report)
Source: The Conference Board
Released when? Around the end of the month at 10 a.m. Eastern. Data for prior month.
Market importance: None. Never moves market owing to fact that most components have already been reported separately by the time the index is released.
Other notes: Until 1995 the Commerce Department compiled the leading index.