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The Conference Board reported today its U.S. leading index of economic indicators rose 0.1% in May, and now stands at 102.1. The index rose 0.1% in April and was unchanged in March.
Four of the 10 leading indicators increased in May. They were interest rate spread, stock prices, manufacturers' new orders for consumer goods and materials and manufacturers' new orders for nondefense capital goods. The negative contributors were real money supply, index of consumer expectations, building permits, index of supplier deliveries and average weekly initial claims for unemployment insurance (inverted). Average weekly manufacturing hours held steady in May.