Leading Economic Indicators rise in May, pointing to slow recovery

It looks like the green shoots are showing signs of soaking up that strong, late spring sunshine. The Index of Leading Economic Indicators rose 1.2 percent in May, the Conference Board announced Thursday -- the index's second straight monthly increase -- with the board adding that it expects a slow recovery to begin by the end of the year.

Economists surveyed by Bloomberg News had expected the index to decline 1.0 percent in May. The index rose 1.1 percent in April and declined 0.3 percent in March. The LEI index now stands at 100.2. (Base year, 2004 =100).