Economic Signals Slowing
June 20, 2022
The Conference Board Leading Economic Index fell in May by 0.4%. It was the second consecutive monthly decline, a dynamic not seen since March 2020. The Index is still relatively high but indicates weaker activity in the near term.
The Industrial Production Index for May increased by 0.2%. Although a positive number, it was below expectations. US factory production declined slightly in May with concerns about weak consumer demand for big ticket items.
The University of Michigan Consumer Confidence Index has fallen to its lowest level in history.