Leading Indicators Increase 0.1% in May

The composite index of leading economic indicators rose 0.1% in May, the Conference Board reported yesterday.

LEI increased an unrevised 0.1% in April.

The coincident index was up 0.1% after a revised 0.1% decline in April, originally reported as unchanged, while the lagging index was up 0.2% after an unchanged level for April, originally reported as a 0.1% increase.

The LEI stands at 102.1, the coincident index is 106.8, and the lagging index is at 112.4.

Economists polled by IFR Markets predicted LEI would be flat in the month.

“The economy is very weak heading into the summer, with gas and utility bills possibly heading even higher,” according to Conference Board labor economist Ken Goldstein. “But latest data suggest the economy has not fallen into a contraction and may not undergo one in the second half of the year. In fact, the economy might even begin to turn a corner early next year.”

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