In May, the Conference Board’s Leading Economic Index fell for the fourteenth month in a row. Jeffry Bartash reports for MarketWatch:
The numbers: The leading economic index dropped 0.7% in May and declined for the 14th month in a row, but there’s still little evidence the U.S. is headed toward recession.
Economists polled by the Wall Street Journal had forecast a 0.7% drop.
The leading economic index is a gauge of 10 indicators designed to show whether the economy is getting better or worse. The report is published by the nonprofit Conference Board.
Key details: Six of the 10 indicators tracked by the Conference Board declined in May.
A measure of current economic conditions, meanwhile, rose 0.2% in May.
The so-called lagging index — a look in the rearview mirror — increased 0.1%.
Read more here.
