Released on July 23, 2020

The Conference Board Leading Economic Index for the US improved in June for the second consecutive month; however, the economic outlook remains weak.

The index rose 2.0% in June to a reading of 102.0; this follows an increase of 3.2% in May and a decline of 6.3% in April.

“The June increase in the [Leading Economic Index] reflects improvements brought about by the incremental reopening of the economy, with labor market conditions and stock prices in particular contributing positively,” said Ataman Ozyildirim, senior director of economic research at The Conference Board. “However, broader financial conditions and the consumers’ outlook on business conditions still point to a weak economic outlook.”

Together with a resurgence of new Covid-19 cases across much of the nation, the Leading Economic Index suggests that the US economy will remain in recession territory in the near term, according to Ozyildirim.

Original author: Staffing Industry Analysts (SIA) | Daily News