The latest report on the United States economy suggests it will pull out of its recent slowdown over the next three to six months.

A private research group said Friday its index of leading economic indicators rose eight-tenths of a percent in May after declining slightly in April.

The New York-based Conference Board looks at key factors such as unemployment, factory orders, stock prices and consumer sentiment to make its measurement.

It said it expects the U.S. economy to benefit from lower gasoline prices and from a greater availability of parts and supplies as Japan recovers from the earthquake and tsunami that devastated areas along the coast.

In all, the board said eight of the 10 key indicators showed improvement but it also warned any economic growth would likely be “choppy” .

Optimism about the future of the U.S. economy is not spreading among consumers.

A survey released Friday by the University of Michigan found consumer sentiment fell in June, with many Americans saying they do not believe the recession is over.

Consumers said they expect high unemployment rates to remain in place and that those with jobs say they see little chance of getting pay raises.

Separately Friday, the International Monetary Fund cut its growth forecast for the U.S. economy.

The IMF now predicts the U.S. economy will grow 2.5 percent this year and 2.7 percent in 2012. In April, the IMF forecast the U.S. economy to grow at a 2.8 percent pace this year.

It is the second time in two months that the IMF has lowered its expectations for the U.S. economic output.

The IMF also warned the U.S. to act quickly to raise its debt-ceiling and do more to lower its budget deficit.

The IMF's latest forecast says the U.S. deficit for 2011 will equal 9.9 percent of the country's gross domestic product .