U.S. Leading Economic Index Jumps In Line With Estimates In May
June 17 2021 - 7:09AM
RTTF2
Suggesting strong economic growth will continue in the near
term, the Conference Board released a report on Thursday showing
another significant increase by its index of leading U.S. economic
indicators.
The Conference Board said its leading economic index surged up
by 1.3 percent in May, matching the revised jump in April as well
as economist estimates. The matching increases follow a 1.4 percent
spike in March.
Ataman Ozyildirim, Senior Director of Economic Research at The
Conference Board, said the leading economic index now stands above
the previous peak reached in January 2020.
"Strengths among the leading indicators were widespread, with
initial claims for unemployment insurance making the largest
positive contribution to the index; housing permits made this
month's only negative contribution," Ozyildirim said.
He added, "The Conference Board now forecasts real GDP growth in
Q2 could reach 9 percent (annualized), with year-over-year economic
growth reaching 6.6 percent for 2021."
The report said the coincident economic index climbed by 0.4
percent in May after rising by 0.3 percent in April and jumping by
1.3 percent in March.
Meanwhile, the lagging economic index tumbled by 2.2 percent in
May after soaring by 3.0 percent in April and plunging by 4.2
percent in March.
Euro vs Yen (FX:EURJPY)
Forex Chart
From Aug 2024 to Sep 2024
Euro vs Yen (FX:EURJPY)
Forex Chart
From Sep 2023 to Sep 2024