The Index of Leading Economic Indicators showed slight improvement in May, suggesting U.S. economic conditions will start to get better, but at a slow pace.
The issuance of a report about the index, compiled by the private sector Conference Board, on Wednesday (June 20) helps explain why the stock market closed higher.
Almost all RV company stock prices closed higher Wednesday, including all of the six largest RV firms. One of the RV industry’s “Big Six,” Monaco Coach, saw its stock price climb Wednesday to a new 52-week high of $25.90 a share.
Six of the 10 components of the index showed improvement in May, according to the Conference Board.
Orders received by manufacturers for consumer goods held steady in May and orders by manufacturers for non-defense capital goods increased last month, it reported.