In­dex of lead­ing in­di­ca­tors rises

Los Angeles Times - - BUSINESS BRIEFING -

An in­dex de­signed to pre­dict the fu­ture health of the econ­omy posted a sec­ond straight strong in­crease in May, in­di­cat­ing the econ­omy should gain strength in the sec­ond half of this year.

The Con­fer­ence Board said its in­dex of lead­ing in­di­ca­tors rose 0.7% in May, match­ing the gain in April. Both months rep­re­sented the strong­est in­crease since a 1% rise last July.

The in­dex of lead­ing in­di­ca­tors is com­posed of 10 for­ward-point­ing in­di­ca­tors. Nine of the 10 showed strength in May led by a big surge in ap­pli­ca­tions for build­ing per­mits.

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