The composite index of Leading Economic Indicators was up 0.6% in June following a revised 0.8% rise in May, first reported as a 0.7% gain, the Conference Board reported Thursday.
The coincident index gained 0.2% in June after a revised 0.2% rise in May, first reported as a 0.1% increase, while the lagging index grew 0.7% after an unrevised 0.1% rise in May.
The LEI stands at 123.6, the coincident index is at 112.5 and the lagging index is at 117.6 The LEI has a baseline of 100, which reflects the level in 2010.
"The upward trend in the US LEI seems to be gaining more momentum with another large increase in June pointing to continued strength in the economic outlook for the remainder of the year," said Ataman Ozyildirim, an economist at The Conference Board. "Housing permits and the interest rate spread drove the latest gain in the LEI, while labor market indicators such as average workweek and initial claims remained unchanged."
