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The Conference Board Leading Economic Index® (LEI) for the U.S. declined 0.2% in May to 123.7 (2010 = 100), following a 0.6% increase in April, and a 0.1% increase in March.
"The US LEI declined in May, primarily due to a sharp increase in initial claims for unemployment insurance. The growth rate of the LEI has moderated over the past year," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. "While the LEI suggests the economy will continue growing at a moderate pace in the near term, volatility in financial markets and a moderating outlook in labor markets could pose downside risks to growth."
The Conference Board Coincident Economic Index® (CEI) for the U.S. was unchanged in May, remaining at 113.5 (2010 = 100), following a 0.2% increase in April, and no change in March.
The Conference Board Lagging Economic Index® (LAG) for the U.S. increased 0.3% in May to 121.9 (2010 = 100), following a 0.2% increase in April, and a 0.6% increase in March.
About The Conference Board Leading Economic Index® (LEI) for the U.S.
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.
