The composite of the Leading Economic Index was up 0.6% in June following a revised 0.2% increase in May, first reported as a 0.3% gain, the Conference Board reported Thursday.

The coincident index gained 0.2% in June after a revised 0.3% rise in May, first reported as a 0.3% increase, while the lagging index was up 0.2% in June, after an unrevised 0.1% rise in May.

The LEI stands at 127.8, the coincident index is at 115.5 and the lagging index is at 124.4 The LEI has a baseline of 100, which reflects the level in 2010.

Economists polled by IFR Markets predicted LEI would be up 0.4% in the month.

“The U.S. LEI rose sharply in June, pointing to continued growth in the U.S. economy and perhaps even a moderate improvement in GDP growth in the second half of the year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The broad-based gain in the U.S. LEI was led by a large contribution from housing permits, which improved after several months of weakness.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.