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U.S. leading indicator points to further economic recovery in June

Economic IndicatorsJul 22, 2021 11:11AM ET
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© Reuters. FILE PHOTO: Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States' largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela/File Photo

By Evan Sully

(Reuters) - A gauge of future U.S. economic activity increased in June, suggesting the economy continued to recover from the recession caused by the novel coronavirus outbreak.

The Conference Board on Thursday said its index of leading economic indicators (LEI) rose 0.7% last month to 115.1, topping its previous peak reached in May.

That was shy of economists' expectations of a 0.9% increase, according to a Reuters poll.

"June’s gain in the U.S. LEI was broad-based and, despite negative contributions from housing permits and average workweek, suggests that strong economic growth will continue in the near term," said Ataman Ozyildirim, senior director of economic research at The Conference Board in Washington.

The LEI's coincident index, a measure of current economic conditions, rose by 0.4% in June after increasing 0.5% in May.

But the lagging index was unchanged last month after increasing 0.6% in May.

U.S. leading indicator points to further economic recovery in June
 

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Chatt career
Chatt career Jul 22, 2021 3:22PM ET
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good luck with showing pictures with people holding groceries Muahahah hawkish pokus hahaha only stock market is up .
Roger Miller
Roger Miller Jul 22, 2021 11:38AM ET
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Looks like almost all indicators are showing a slow down in the recovery despite being still down 6.8 million jobs and inflation high.
 
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