USA: index of leading indicators falls in May
The precursor index fell by 0.5% last month, to 101.2, after declining by 0.6% in April, when economists were forecasting a more limited decline of around 0.3%.
While the Conference Board indicates that such an indicator is not a harbinger of a coming recession, the trade organization now expects US GDP to rise by less than 1% annualized in the second and third quarters, due to inflation and high interest rates, which it believes are weighing on consumer spending.
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