(RTTNews) – A report released by the Conference Board on Friday showed its reading on leading U.S. economic indicators fell by more than expected in the month of May.
The Conference Board said its leading economic index decreased by 0.5 percent in May following a 0.6 percent decline in April. Economist had expected the index to dip by 0.3 percent.
Over the six-month period between November 2023 and May 2024, the index slumped by 2.0 percent compared to the 3.4 percent contraction over the previous six months.