MAY LEADING ECONOMIC INDICATORS UP 0.1%
The Conference Board said today that the composite index of leading indicators rose 0.1% in May after an unrevised 0.1% increase in April and no change in March.
The coincident index rose 0.1% after a 0.1% decline in April. The lagging index rose 0.2% following no change the prior month.
The board said the US economy is very weak heading into the summer, with gas and utility bills possibly heading even higher,” said labor economist Ken Goldstein. “But latest data suggest the economy has not fallen into a contraction and may not undergo one in the 2nd half of this year. In fact, the economy might even begin to turn a corner early next year.”