U.S. Leading Economic Indicators Decline in June
The Conference Board's index fell 0.2% due to reduced consumer spending, reversing recent gains.
The U.S. Leading Economic Index (LEI) decreased by 0.2% in June, according to data released by The Conference Board. This downturn follows increases observed in both May and April.
The index's decline was primarily driven by a weakening in consumer spending, which has seen a pullback after earlier gains. The LEI is designed to anticipate future economic activity, and its decrease suggests a potential slowdown in the U.S. economy.
The Conference Board's LEI comprises ten leading indicators, including new orders for manufactured goods, building permits, stock prices, and average weekly manufacturing hours. The composite index had previously shown resilience, ticking up in May after a significant jump in April. The June figures indicate a reversal of this positive momentum.