Leading Economic Indicators Rise More Than Expected

New York, NY, June 19, 2015 -- The index of leading economic indicators rose 0.7% in May for the second month in a row, the Conference Board said.

"The U.S. LEI increased sharply again in May, confirming the outlook for more economic expansion in the second half of the year after what looks to be a much weaker first half," said Ataman Ozyildirim, director of business cycles and growth research, in a press release.

The index is a measure of the outlook for the next three to six months.

Economists were looking for a 0.4% gain.