17 June 2010 19:04 [Source: ICIS news]
WASHINGTON (ICIS news)--The index of US leading economic indicators (LEI) rose by 0.4% in May from April, the Conference Board said on Thursday, but the pace of the nation’s recovery is expected to slow in the second half this year.
The Conference Board, a 94-year-old business analysis group based in ?xml:namespace>
In April, the index initially showed a narrow 0.1% decline - the first downward indicator in a year - but the board said revised data disclosed that April was flat with neither a loss or gain.
The board’s index of leading indicators is a consolidated measure of 10 subsidiary data sets that also include stock prices, building permits, unemployment claims and orders for capital goods - all of which worsened in May.
The index had been on a generally upward swing for more than a year, the board noted, but its six-month growth rate has been moderating.
For example, the rate of growth for the index over the last six months has been 3.9%, the board noted. But that rate is down from the 5.2% pace of growth that was recorded for the index in the previous six months.
“The index points to continued though slower
“Public debt and deficits weigh heavily on growth prospects on both sides of the
“We project a serious slowdown in European growth in 2011,” van Ark said, “which could further weaken the
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