The U.S. leading economic index rose in May for the fourth consecutive month, The Conference Board reported today. The index rose 0.5 percent in May to a reading of 101.7 (2004 = 100), following a 0.3 percent increase in April, and a 1.0 percent increase in March.

“Recent data suggest the economy is finally moving up from a 2 percent growth trend to a more robust expansion,” said Ken Goldstein, economist at The Conference Board. “The [coincident economic index] shows the pace of economic activity continued to gain traction in May, while the trend in the [leading economic index] remains positive. Going forward, the biggest challenge is to sustain the rise in income growth which will drive consumption.”