U.S. Leading Economic Index unchanged in May

The Conference Board announced on Thursday its Leading Economic Index (LEI) for the U.S. was unchanged in May, remaining at 111.8 (2016 = 100), following a revised 0.1 percent increase in April (originally a 0.2 percent m-o-m gain).

Economists had forecast an advance of 0.1 percent.

Ataman Ozyildirim, Director of Economic Research at The Conference Board, said “The US LEI was unchanged in May, following three consecutive increases. Positive contributions from financial conditions and consumers’ outlook offset the weakness in stock prices and the manufacturing sector. The yield spread’s contribution to the LEI was neither positive nor negative. While the economic expansion is now entering its eleventh year, the longest in US history, the LEI clearly points to a moderation in growth towards 2 percent by year-end.”

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. went up 0.2 percent to 105.9 in May after a 0.1 percent uptick in April. Meanwhile, its Lagging Economic Index (LAG) for the U.S. fell 0.2 percent to 107.0, following a 0.1 percent drop in April.