The composite index of leading economic indicators gained 0.7% in June, the Conference Board reported yesterday.

LEI increased a revised 1.3% in May, originally reported as a 1.2% rise.

The coincident index slid 0.2% after a revised 0.3% drop in May, while the lagging index fell 0.7% after a 0.4% decline in May.

Economists polled by Thomson Reuters predicted LEI would be up 0.5% in the month.

“The recession has been losing steam since the spring, although very large job losses continue,” according to board economist Ken Goldstein. “Nevertheless, confidence is slowly rebuilding. Financial markets are less volatile. Even the housing market is stabilizing. If these trends continue, expect a slow recovery this autumn.”

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