U.S. leading indicators rise

June 21, 2012 at 2:31 PM

NEW YORK, June 21 (UPI) -- The U.S. index of leading economic indicators rose 0.3 percent in May after dropping in April, the Conference Board said Thursday.

The Leading Economic Index has now gained in seven of the past eight months. In May it rose to 95.8, following a drop of 0.1 percent in April.

Economists had predicted a 0.1 percent gain.

The Leading Economic Index, which takes into account 10 economic components, is essentially a comparison with 2004, the year the Conference Board assigned a level of 100.

Despite the increase, "Weakness in the average workweek in manufacturing, stock prices and consumer expectations kept the Leading Economic Index from rising further," said Conference Board economist Ataman Ozyildirim.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Houston-based LINN leaves Texas shale
Australian troops to receive new rifle variant
Saab joining BAE Systems, Patria in bid to produce armored vehicle
Gas prices could go up, AAA says
Kurdish government in Iraq selling more oil