Leading economic indicators fell for the second month in June, according to a report released today by The Conference Board.
The U.S. leading index decreased 0.1 percent last month. Based on revised data, this index decreased 0.2 percent in May and increased 0.1 percent in April. The weaknesses among its components have remained widespread throughout the last six months, according to the private research firm.
Real-money supply, stock prices and weekly initial claims made large negative contributions to the index in June, more than offsetting positive contributions from building permits, the interest rate spread and supplier deliveries, according to the Conference Board.
The coincident index, a measure of economic activity, increased 0.1 percent in June. This index decreased 0.1 percent in May and remained unchanged in April. The lagging index declined 0.3 percent last month. Based on revised data, the lagging index decreased 0.2 percent in May and decreased 0.1 percent in April.
“All in all, the behavior of the composite indexes suggests that the risks for further weakening in the economy in the near term remain elevated,” The Conference Board said in a statement.