May leading economic indicators up 0.8%

WASHINGTON (MarketWatch)
The U.S. economy is likely to grow in a "choppy" manner through the summer and autumn, the Conference Board said Friday as it reported that its index of leading economic indicators grew a surprisingly strong 0.8% in May.
The reading for May came in ahead of expectations, following a downwardly revised 0.4% drop in April, from the initially reported 0.3% drop.
Economists polled by MarketWatch had forecast a 0.5% improvement in May.
The largest contributions to the index, which is composed of 10 weighted indicators, came from the interest rate spread, consumer expectations and housing permits, more than offsetting the negative contribution from supplier deliveries