The Iowa Leading Indicators Index decreased 0.1 percent to 105.6 in May from 105.8 in April, reversing the positive growth seen the last two months. Along with the negative change in the index, the monthly diffusion index decreased from 43.8 in April to 31.3 in May, with only two of the eight components experiencing positive changes. There were two positive contributors to the index in May: the agricultural futures profits index and the Iowa stock market index. After recording the largest positive contribution to the index in April, residential building permits turned down and were the largest negative contributor in May. May 2016 residential building permits were down 20.3 percent from May 2015 and down 17.7 percent from the historical average for May.