Leading indicators suggest pickup in late ‘09
Written on May 23, 2009
A forward-looking measure of the U.S. economy in April posted its first rise since June 2008, a private research firm said Thursday, suggesting a pickup in growth awaits the economy in the second half of 2009.
The index of leading indicators, which is supposed to forecast economic trends six to nine months ahead, rose 1% in April after a revised 0.2% fall the previous month, the New York-based Conference Board said.
"The leading indicators suggest that while the recession will continue in the near term, the declines will be less intense," said Ken Goldstein, a Conference Board economist instant health insurance quote.
"If the indicators continue on the current track, that point might be reached in the second half of the year," Goldstein said.
Wall Street economists had forecast a rise of 0.8% after an initial 0.3% March drop.
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