Leading Economic Indicators Rebound in May

New York, NY, June 17, 2011 -- The index of U.S. leading economic indicators bounced back in May after declining for the first time in nearly a year, according to the Conference Board.

The Conference Board’s measure of the outlook for the next three to six months rose 0.8 percent after a revised 0.4 percent decline in April.

Economists forecast a 0.3 percent gain.

The economy may benefit later this year from cheaper fuel prices and the easing of supply distruptions stemming from the earthquake in Japan.

Eight of the 10 indicators in the leading index contributed to the gain, led by the positive spread between short-and long- term interest rates, an increase in consumer expectations and a jump in building permits.

The Conference Board’s index of coincident indicators, which tracks tracks payrolls, incomes, sales and production, climbed 0.1 percent for a second month.