Leading Indicators Inch Up, But Weakness Remains

NEW YORK (AP)– The Conference Board’s index of leading economic indicators inched higher for the second month during May – another sign that the economy is growing at a snail’s pace.

The private business group says its forecast of future economic activity rose one-tenth of a percent – the same as April – matching expectations of economists surveyed by Thomson Financial.

The index is designed to forecast economic activity in the next three to six months. It is based on 10 components, including stock prices, building permits and initial claims for unemployment benefits.