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Economic Activity <br />Leading Economic Indicators (LEI) <br />4.0% — <br />2.0 % <br />0 0.0% <br />c <br />r <br />U <br />-2.0% <br />0 -4.0% <br />-6.0% <br />-8.0% — <br />4 0 <br />q ti <br />d`19 g19 G19 <br />Source: The Conference Board <br />�Pb,)p tio") �Pb� <br />p O O 1 <br />Chicago Fed National Activity Index (CFNAI) <br />HE <br />0 11 <br />L <br />0.00 <br />Q <br />t <br />c -2.00 <br />O <br />-4.00 <br />-8.00 — <br />Oil <br />1 ,9 9 <br />Source: Federal Reserve Bank of Chicago <br />APb �°'` <br />'0 )o <br />The Conference Board's Leading Economic Index (LEI) increased 1.3% month -over -month in May (in line with expectations), following a 1.3% <br />increase in April. On a year -over -year basis, the LEI was up 14.7% in May against a severe decline in the index during the early stage of the <br />pandemic last year. According to the Conference Board, the index suggests that economic growth will remain strong in the near term. <br />Meanwhile, the Chicago Fed National Activity Index (CFNAI) increased to 0.29 in May from -0.09 in April. On a 3-month moving average basis, <br />the CFNAI increased to 0.81 in May from 0.17 in April, and it continues to signal above -trend economic growth. <br />8 Qtj <br />17 <br />