US leading economic index declines in June: report

0 Comment(s)Print E-mail Xinhua, July 19, 2019
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The U.S. leading economic index (LEI) dropped in June, indicating a slowing growth of the economy, The Conference Board reported on Thursday.

The LEI for the United States declined 0.3 percent in June to 111.5, following a muted May and a 0.1 percent increase in April, according to the New York-based institution.

"The U.S. LEI fell in June, the first decline since last December, primarily driven by weaknesses in new orders for manufacturing, housing permits, and unemployment insurance claims," said Ataman Ozyildirim, a researcher at The Conference Board, adding that the reading "suggests growth is likely to remain slow in the second half of the year."

The Conference Board coincident economic index (CEI) for the United States increased 0.1 percent in June to 105.9, following a 0.2 percent increase in May and no change in April.

Meanwhile, the lagging economic index (LAG) for the world's largest economy increased 0.6 percent in June to 107.7, following a 0.2 percent decline in May and no change in April, showed the report.

The LEI is a weighted gauge of 10 indicators designed to signal peaks and troughs in the business cycle.

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