Conference Board Leading Economic Index For The U.S. Increases

(Newsroom America) -- The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.3 percent in May to 95.8 (2004 = 100), following a 0.1 percent decline in April, and a 0.2 percent increase in March.

Economist at The Conference Board, Ataman Ozyildirim, said weakness in the average workweek in manufacturing, stock prices and consumer expectations kept the LEI from rising further.

"Its six-month growth rate remains in expansionary territory and well above its growth at the end of 2011, pointing to a relatively low risk of a downturn in the second half of 2012."

Another economist at The Conference Board, Ken Goldstein,said economic data in general reflect a U.S. economy that is growing modestly, neither losing nor gaining momentum.

"The result is more of a muddle through. Continued headwinds, both domestic and foreign, make further strengthening of the economy difficult," he said.