Fourth Consecutive Increase; Economy to Continue Expanding and May Pick Up in Second Half
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.5 percent in May to 101.7 (2004 = 100), following a 0.3 percent increase in April, and a 1.0 percent increase in March.
"May's increase in the LEI, the fourth consecutive one, was broad based," said Ataman Ozyildirim, Economist at The Conference Board. "Housing permits held the index back slightly but the LEI still points to an expanding economy and its pace may even pick up in the second half of the year."
"Recent data suggest the economy is finally moving up from a 2 percent growth trend to a more robust expansion," said Ken Goldstein, Economist at The Conference Board. "The CEI shows the pace of economic activity continued to gain traction in May, while the trend in the LEI remains positive. Going forward, the biggest challenge is to sustain the rise in income growth which will drive consumption."
The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 0.3 percent in May to 109.0 (2004 = 100), following a 0.2 percent increase in April, and a 0.4 percent increase in March.
The Conference Board Lagging Economic Index® (LAG) for the U.S. increased 0.4 percent in May to 123.8 (2004 = 100), following a 0.3 percent increase in April, and a 0.6 percent increase in March.