U.S. leading indicators signal partial economic rebound in May

WASHINGTON (MarketWatch) - The leading economic index rose 2.8% in May, signaling the beginning of a recovery after a record plunge in the prior two months, the Conference Board said Thursday. The index had tumbled 6.1% and 7.5% in April and March. "In May, the US LEI showed a partial recovery from its sharp decline over the previous three months, as economic activity began to pick up again," said Ataman Ozyildirim, director of business cycles research at the board. "The breadth and depth of the decline in the LEI between February and April suggest the economy at large will remain in recession territory in the near term." The LEI is a weighted gauge of 10 indicators designed to signal business-cycle peaks and valleys.

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