(Reuters) – A gauge of future U.S. financial exercise elevated in June, suggesting the economic system continued to get better from the recession brought on by the novel coronavirus outbreak.
The Convention Board on Thursday stated its index of main financial indicators (LEI) rose 0.7% final month to 115.1, topping its earlier peak reached in Could.
That was shy of economists’ expectations of a 0.9% enhance, in line with a Reuters ballot.
“June’s achieve within the U.S. LEI was broad-based and, regardless of damaging contributions from housing permits and common workweek, means that robust financial progress will proceed within the close to time period,” stated Ataman Ozyildirim, senior director of financial analysis at The Convention Board in Washington.
The LEI’s coincident index, a measure of present financial circumstances, rose by 0.4% in June after growing 0.5% in Could.
However the lagging index was unchanged final month after growing 0.6% in Could.