Conference Board announces increase in U.S. leading indicators
The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.8 percent in May to 114.7 (2004 = 100), following a 0.4-percent decline in April, and a 0.7-percent increase in March. The largest contributions came from the interest rate spread, consumer expectations, and housing permits.
The Coincident Economic Index, a monthly measure of current economic conditions, continued to increase slowly, but steadily. Overall, despite short-term volatility, the composite indexes still point to expanding economic activity in the coming months.”
“Modest economic growth is being buffeted by some strong headwinds, including high gas and food prices and a soft housing market,” said Ken Goldstein, economist at The Conference Board. The economy will likely continue to grow through the summer and fall, however it will be choppy.”
The Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.1 percent in May to 102.9 (2004 = 100), following a 0.1-percent increase in April, and a 0.2-percent increase in March.
Source: The Conference Board