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.

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...