Conference Board China Leading Economic Index for May +1.1% m/m

The Conference Board Leading Economic Index (LEI) for China

• +1.1% in May
• Prior was +1.4% in April & +0.2% in March
• Positive contributions to the index from consumer expectations index, total loans issued by financial institutions, total floor space started, the PMI new export orders index, and the 5000 industry enterprises diffusion index: raw materials supply index
• Only negative was from the (inverted) PMI supplier delivery index in May

"Growth in the LEI moderated somewhat in May, dragged down by weak manufacturing data, poor export performance, and still-struggling new construction starts," said Andrew Polk, resident economist at The Conference Board China Center in Beijing. "The growth rate of the LEI has been very volatile in recent months suggesting the second quarter's economic stabilization will be shallow and short-lived."

Coincident Index:

• +0.6% (follows +0.1% in April & +2.9% in March)
• All five components contributed positively to the index in May