Leading economic indicators post third consecutive increase
Following a 1.3 percent gain in May, and a 1.0 percent rise in April, The Conference Board’s Leading Economic Index™ (LEI) for the U.S. increased 0.7 percent in June. The Conference Board LEI for the U.S. now stands at 100.9 (2004=100). The U.S. LEI has improved 4.1 percent (annual rate) over the past six months, according to the report.
“The recession has been losing steam since the spring, although very large job losses continue,” said Ken Goldstein, economist at The Conference Board. “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.”