U.S. leading indicators rise in June

The Conference Board’s leading economic index increased in June but the pace of improvement has slowed, the Conference Board said Thursday.

The index rose 2% in June following a revised 3.2% rise in May and a 6.3% drop in April.

The gain in June reflects improvements brought about by the incremental opening of the economy, said Ataman Ozyildirim, senior director of economic research at the Conference Board. But, with the resurgence of new COVID-19 cases, the LEI suggests that the U.S. economy will remain in recession territory in the near term,” he added.

The LEI is a weighted gauge of 10 indicators designed to signal business-cycle peaks and valleys.