Conference Board News Release (06/20/13)
The Conference Board Leading Economic Index for the U.S. rose 0.1% in May to 95.2, after rising 0.8% in April and falling 0.3% in March. “Despite month-to-month volatility, the LEI’s six-month growth rate remains steady, suggesting that conditions in the economy remain resilient. Widespread gains in the leading indicators over the last six months suggest there is some upside potential for economic activity in the second half of the year,” says Ataman Ozyildirim, a Conference Board economist.
“Growth will depend on continued improvement in the housing market and an easing of consumer and business caution which would allow overall consumption and investment to gain traction. Cutbacks in public spending programs and the drag from foreign trade remain headwinds,” says Ken Goldstein, a Conference Board economist.