Leading Economic Indicators Rise 0.3%

The gain followed a 0.1% decline in April.

The May increase topped economists’ median forecast of a 0.1% gain, Bloomberg reported.

The rise was propelled by a jump in building permits that rose to the highest level in more than three-and-a-half years, Bloomberg said.

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