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The U.S. leading economic index rose in May for the second consecutive month, The Conference Board reported today, suggesting that conditions in the economy remain resilient. The index increased 0.1 percent in May to a reading of 95.2 (2004 = 100).
“Growth will depend on continued improvement in the housing market and an easing of consumer and business caution which would allow overall consumption and investment to gain traction,” said Ken Goldstein, economist at The Conference Board. “Cutbacks in public spending programs and the drag from foreign trade remain headwinds.”