U.S. Leading Economic Index Dips Slightly More Than Expected In June
Partially reversing gains registered in May and April, the Conference Board released a report on Monday showing a modest pullback by its reading on leading U.S. economic indicators in the month of June.
The Conference Board said its leading economic index dipped by 0.2 percent in June after inching up by 0.1 percent in May. Economists had expected the index to edge down by 0.1 percent.
“While some components of the LEI were little changed, the largest positive contribution from the yield spread, followed by marginal positive input from the remaining financial components, were not enough to offset weak consumer expectations and a drop in building permits across most of its categories,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
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