Leading indicators up in May, still short of expectations

The Conference Board’s Leading Economic Index increased 0.2 percent in May, short of economists’ expectations.

The index was expected increase 0.4 percent in May, according to economists polled by Reuters.

May’s increase marks the seventh month of gains, after jumping 0.4 percent to 109.4 in April.

The measurement is used to forecast global economic trends and keep tabs on the U.S. economy. The Conference Board, a business research association, determines a composite value based on 10 key metrics, including manufacturers’ new orders, stock prices and average weekly unemployment claims, to create the composite value.