With leading U.S. economic indicators turning in a mixed performance in June, the Conference Board released a report on Thursday showing that its leading economic index came in unchanged for the month.
The Conference Board said its leading economic index was flat in June after edging up by 0.2 percent in May and jumping by 0.8 percent in April. Economists had expected the index to rise by 0.3 percent.
Ataman Ozyildirim, an economist at the Conference Board, said, "Declines in building permits, new orders and stock prices were offset by gains in consumer expectations, initial claims for unemployment insurance, and other financial indicators."
"However, the LEI's six-month growth rate remains positive, suggesting the economy will continue expanding through the end of the year," he added.
The report also showed that the coincident economic index rose by 0.2 percent in June, matching the increases seen in the two previous months.
The modest increase by the coincident index reflected positive contributions from all four indicators that make up the index.
Additionally, the Conference Board said the lagging economic index climbed by 0.3 percent in June following a 0.4 percent increase in May and a 0.2 percent increase in April.
Positive contributions from the average duration of unemployment and the ratio of consumer installment credit to personal income contributed to the increase by the lagging index.
Ken Goldstein, an economist at the Conference Board, said, "Some segments of the economy are turning around faster than others, resulting in positive but moderate growth."
"The biggest uncertainties remain the pace of business spending, the improvements in consumer spending power and the impact of slower global growth on U.S. exports," he added.
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