The Conference Board(R) The U.K. Business Cycle Indicators(SM)

U.K. Leading Economic Indicators

and related composite indexes for November 2005

NEW YORK, Jan. 13 /PRNewswire/ -- The Conference Board announced today
that the leading index for the U.K. was unchanged, and the coincident
index increased 0.2 percent in November.

-- The leading index was unchanged in November following a sharp decline

in October. The leading index is now essentially at the same level as

July 2005. The six month growth rate of the leading index is --

0.7 percent annual rate, but it has recovered from the most recent low

of almost -- 2.0 percent in August, and the strengths and weakness

among the leading indicators have remained evenly balanced in recent

months.

-- The coincident index increased slightly in November, and it has been on

a flat to slightly rising trend since mid 2004. At the same time, real

GDP grew at an average 1.5 percent annual rate in the first three

quarters of 2005, down from a 2.5 percent average rate in 2004.

-- Following a steep upward trend from early 2003 through mid 2004, the

leading index has been fluctuating around a flat trend since May 2004.

Despite a slight pick up in late 2004 and early 2005, the leading index

is now 0.6 percent below its May 2004 level. The behavior of the

leading index in recent months suggests that slower economic growth is

likely to persist in the near term.

LEADING INDICATORS. Four of the eight components that make up the
leading index increased in November. The positive contributors -- from
the largest positive contributor to the smallest -- were stock prices,
order book volume, productivity for the whole economy*, and the fixed
interest price index. Volume of expected output, consumer confidence,
operating surplus of corporations*, and new orders for engineering
industries* declined in November.

Holding steady in November, the leading index now stands at 132.9
(1990=100). Based on revised data, this index declined 0.4 percent in
October and increased 0.2 percent in September. During the six-month
span through November, the leading index declined 0.4 percent, with
four of the eight components advancing (diffusion index, six-month
span equals 50.0 percent).

COINCIDENT INDICATORS. All four components that make up the coincident
index increased in November. The positive contributors -- from the
largest positive contributor to the smallest -- were employment*,
industrial production, retail sales, and real household disposable
income*.

With the 0.2 percent increase in November, the coincident index now
stands at 116.4 (1990=100). Based on revised data, this index
increased 0.1 percent in October and was unchanged in September.
During the six-month period through November, the coincident index
increased 0.6 percent, with three of the four components advancing
(diffusion index, six-month span equals 75.0 percent).

ABOUT THE CONFERENCE BOARD. Founded in 1916, The Conference Board is
the premier business membership and research network. The Conference
Board has become a global leader in helping executives build strong
professional relationships, expand their business knowledge and find
solutions to a wide range of business challenges. The Board's
Economics Program, under the direction of Chief Economist Gail Fosler,
is a recognized source of forecasts, economic analysis and objective
indicators such as the Leading Economic Indicators and the Consumer
Confidence Index.

This role is part of a long tradition of research and education that
stretches back to the compilation of the first continuous measure of
the cost of living in the United States in 1919. In 1995, The
Conference Board assumed responsibility for computing the composite
indexes from the U.S. Department of Commerce. The Conference Board now
produces business cycle indexes for the U.S., Australia, France,
Germany, Korea, Japan, Mexico, Spain and the U.K. To subscribe to any
of these indexes, please visit http://www.globalindicators.org,
contact the Customer Services at 212-339-0345, or email
indicators@conference-board.org.

Summary Table of Composite Indexes

2005 6-month

Sep. Oct. Nov. May -Nov.

Leading Index 133.4 p 132.9 p 132.9 p

Percent Change +0.2 p -0.4 p 0.0 p -0.4 p

Diffusion 43.8 37.5 50.0 50.0

Coincident Index 116.1 p 116.2 p 116.4 p

Percent Change 0.0 p +0.1 p +0.2 p + 0.6 p

Diffusion 87.5 75.0 100.0 75.0

n.a. Not available p Preliminary r Revised

Indexes equal 100 in 1990 Source: The Conference Board

For more information visit our Website:

http://www.conference-board.org/economics/bci

The next release is scheduled for February 13, 2006 at 10:30 A.M. ET

In the U.K. -- February 13, 2006 at 3:30 P.M. (GMT) SOURCE The Conference Board