The Conference Board’s Leading Economic Index for the US rose in July but at a slower pace than in May and June, raising questions about the economic recovery going forward.
“Despite the recent gains in the [Leading Economic Index], which remain fairly broad-based, the initial post-pandemic recovery appears to be losing steam,” said Ataman Ozyildirim, senior director of economic research at The Conference Board. “The [Leading Economic Index] suggests that the pace of economic growth will weaken substantially during the final months of 2020.”
The Leading Economic Index rose 1.4% in July to a reading of 104.4. However, it had posted increases of 3.0% in June and 3.1% in May.