Leading indicators on the health of the U.S. economy were broadly lower in May, the U.S. Conference Board said today.

The research group said that its composite index of leading economic indicators fell 0.5% in May to a reading of 114.1, following a flat reading in April. April’s reading was revised up from a 0.2% decline.

Conference Board economist Ken Goldstein said in a release that the leading index suggests “slower growth setting in during the third quarter” and said the anticipated slowdown appears to be a global phenomenon.

“Energy prices are one factor driving this global trend. Of more concern is the level of confidence of both consumers and chief executives, which has been choppy,” he said.

The Conference Board noted that just one of the 10 indicators that make up the leading index — stock prices — showed improvement in May. The biggest negative contributor was interest-rate spreads, followed by initial weekly jobless claims and building permits. Declines in vendor performance, average weekly manufacturing hours, consumer expectations, manufacturers’ new orders for nondefense capital goods, real money supply and manufacturers’ new orders for consumer goods and materials also weighed on the index.

Two related indexes included in the Conference Board’s report increased in May. The composite index of coincident indicators rose 0.2% to 119.7, after a 0.2% increase in April. The index of lagging indicators was up 0.3% in May at 99.8, after a downwardly revised 0.1% increase the month before.