The Conference Board Leading Economic Index (LEI) for the U.S. declined 0.3 percent in June to 95.6, following a 0.4 percent increase in May and a 0.1 percent decline in April. The Coincident Economic Index (CEI) and the Lagging Economic Index (LAG) each increased 0.2 percent.

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\”The U.S. LEI declined in two of the last six months, and its six-month growth rate has eased in the last three months,\” says Ataman Ozyildirim, economist at The Conference Board. \”The strengths among the leading indicators have become less widespread as consumer expectations and manufacturing new orders offset gains in the financial, labor, and construction-related components.\”

The LEI for the U.S. now stands at 95.6 (2004=100). Weakness in new orders, consumer expectations and building permits contributed to this month’s decline. In the six-month period ending June 2012, the leading economic index increased 1 percent (about a 1.9 percent annual rate), faster than the growth of 0.5 percent (about a 1.1 percent annual rate) during the previous six months. In addition, the strengths among the leading indicators have become less widespread in recent months.

The coincident economic index, a measure of current economic conditions, has risen steadily over the last three months and now stands at 104.5 (2004=100). The index rose 0.8 percent (about a 1.5 percent annual rate) between December 2011 and June 2012, much slower than the growth of 2 percent (about a 4 percent annual rate) for the previous six months. However, the strengths among the coincident indicators have remained very widespread, with all components advancing over the past six months.

The lagging economic index continued to increase at the same pace as the CEI, and the coincident-to-lagging ratio remained unchanged in June. Real GDP expanded at a 1.9 percent annual rate in the first quarter of the year, after increasing at a 3.0 percent annual rate in the last quarter of 2011.

The Conference Board lagging economic index now stands at 115.5.

\”The U.S. economy is growing very slowly,\” says Ken Goldstein, economist at The Conference Board. \”The CEI basically reflects this steady but soft pace of overall economic activity. The LEI is pointing to no strengthening over the next few months, as the economy continues to sail through strong headwinds domestically and internationally.\”