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May US Leading Index Increases As Expected After April Gain

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The Conference Board's measure of leading indicators increased by 0.1% in May, as expected in a survey compiled by Bloomberg and following a 0.2% increase in April.

There were positive contributions from six of the 10 components, led by S&P 500 Stock Index and the interest rate spread.

"Despite two consecutive monthly increases, the LEI's six- and twelve-month growth rates were still negative, suggesting slower economic expansion ahead," said Justyna Zabinska-La Monica, Senior Manager of Business Cycle Indicators at The Conference Board. "Consumers are feeling squeezed because everyday costs-especially gas and energy-are rising faster than their incomes, leaving many households with less money available for things like travel, restaurants, entertainment, and shopping."

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