US leading economic indicators decline in June as consumer weakness offsets financial gains

The Conference Board’s Leading Economic Index dropped 0.2% in June 2026, landing at 99.1 on the organization’s scale (with 2016 as the base year of 100). That reversal erased the modest 0.1% uptick recorded in May.

Across the first half of 2026, the LEI contracted by just 0.3%. Compare that to the 1.1% decline during the second half of 2025, and the trajectory starts to look considerably less grim.

What dragged the index down

Justyna Zabinska-La Monica, Senior Manager at the Conference Board, pointed to two culprits pulling the index into negative territory.

“Positive financial components were more than offset by weakness in consumer expectations and a drop in building permits.”