U.S. Leading Economic Index Dips Slightly More Than Expected In June
(RTTNews) - A report released by the Conference Board on Monday showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of June.
The Conference Board said its leading economic index declined by 0.3 percent in June following a revised unchanged reading in May.
Economists had expected the leading economic index to slip by 0.2 percent compared to the 0.1 percent dip originally reported for the previous month.
"For a second month in a row, the stock price rally was the main support of the LEI," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. "But this was not enough to offset still very low consumer expectations, weak new orders in manufacturing, and a third consecutive month of rising initial claims for unemployment insurance."
She added, "At this point, The Conference Board does not forecast a recession, although economic growth is expected to slow substantially in 2025 compared to 2024."
Meanwhile, the Conference Board said its coincident economic index rose by 0.3 percent in June after coming in unchanged in both May and April.
The report also said the lagging economic index was unchanged in June after climbing by 0.4 percent in the previous month.
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