Leading Economic Indicators Gain 1.2%

An index of leading economic indicators rose 1.2% last month, the New York-based Conference Board said Thursday.

The jump followed a revised 1.1% increase in April, the biggest back-to-back gain since November-December 2001, the group said. Seven of the LEI’s 10 indicators showed gains.

Economists had forecast a 1% increase, Bloomberg reported.

The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.