Philly Fed business index falls to -5.8 in May
Philly Fed index was expected to rise to 10.0
WASHINGTON (MarketWatch) -- The economy is "still struggling to gain momentum," though long-term trends remain expansionary, the Conference Board said Thursday as it reported that its index of leading economic indicators fell 0.1% in April, the first decline since September. "Growth is slow, but choppy, and consumers, executives and investors are looking for more progress," said Ken Goldstein, economist at the Conference Board, a private research group. Economists polled by MarketWatch had expected an April gain of 0.1%, following an increase of 0.3% in March. The LEI is a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs. Among the 10 indicators that make up the LEI, four made negative contributions in April, led by building permits. In the six months through April, the LEI rose 1.8%, compared with a gain of 0.1% in the prior six months
Zurück
Weiter
