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USA: index of leading indicators falls in May

( - The index of leading indicators, which is supposed to forecast economic activity in the United States, fell more sharply than expected in May, announced the Conference Board on Friday, which sees this as a sign of slowing growth.

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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