Economic barometer took a dip in May

The government's index of leading economic indicators, turned downward in May , the third and largest retreat this year. The index dropped 1.8 percent from April, which was revised to show a 0.4 percent increase.

Nine of the 10 indicators available for May contributed to the decline: layoff rate, new orders, pace of deliveries, contracts and orders for plants and equipment, building permits, stock prices, liquid assets, money supply adjusted for inflation, and a four-month average of crude materials and raw goods. Only the length of the average workweek improved.

The index is designed to forecast trends in economic activity and likely economic p erformance.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK