The Conference Board Leading Economic Index for the US rose in May, and the organization reported annualized GDP growth in the second quarter could reach 9%.
“After another large improvement in May, the US [Leading Economic Index] now stands above its previous peak reached in January 2020 (112.0), suggesting that strong economic growth will continue in the near term,” said Ataman Ozyildirim, senior director of economic research. “The Conference Board now forecasts real GDP growth in Q2 could reach 9% (annualized), with year-over-year economic growth reaching 6.6% for 2021.”
The index level increased by 1.2% in May to a level of 114.5 (2016 = 100). May’s increase follows increases of 1.3% in April and 1.4% in March.