China Leading Index Slows To 0.7% In May - Conference Board



A leading economic index for China continued to expand in May, albeit at a slower pace, the latest survey from the Conference Board revealed on Tuesday.

The group's leading economic index was up 0.7 percent last month to a score of 290.2. That follows 1.0 percent increases in both April and March.

The coincident index was also up 0.7 percent in May, the data showed, with a score of 259.7. That was unchanged from the previous month and down from 1.5 percent in March.

"While the Leading Economic Index for China increased in May, its rate of increase has slowed considerably in recent months. The LEI, and its underlying components, suggest continued weaknesses in China's real economy in the coming months," said Jing Sima, Economist at The Conference Board.

"April's sharp improvement in the real estate sector was short-lived and consumers remain in a pessimistic mood. Moreover, the Coincident Economic Index indicates the rate of current economic activity is substantially lower than last year."

News are provided by InstaForex.