US Leading Economic Index (LEI) fell 0.5% in May, exceeding forecast, due to decreased new orders, weak consumer sentiment, and lower building permits.
The US Leading Economic Index (LEI) fell 0.5% in May, exceeding a forecasted 0.3% drop, following a 0.6% decline in April. The Conference Board attributes the decline to decreased new orders, weak consumer sentiment, and lower building permits. The LEI doesn't signal recession but anticipates real GDP growth to slow to under 1% annually in Q2 and Q3 of 2024 due to high inflation and interest rates impacting consumer spending.
June 21, 2024
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