» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 38 | NO. 20 | Friday, May 16, 2014

Gauge of US economy posts 0.4 percent April gain

Print | Front Page | Email this story

WASHINGTON (AP) — A gauge designed to predict the economy's future health posted a solid gain in April, further evidence of stronger growth after a severe winter dampened activity.

The Conference Board said Thursday that its index of leading indicators increased 0.4 percent in April following an upwardly revised 1 percent gain in March. The strength in April was led by improving housing and financial market conditions.

"Despite a brutal winter which brought the economy to a halt, the overall trend in the leading economic index has remained positive," said Conference Board economist Ken Goldstein. He said stronger spending by consumers and higher business investment should bolster growth in coming months.

The overall economy grew at a barely discernible 0.1 percent rate in the January-March quarter but many analysts expect growth will bounce back to an annual rate over 3.5 percent in the current April-June quarter and will remain above 3 percent in the second half of this year.

For April, five of the 10 forward-pointing indicators made positive contributions. The largest contribution came from the spread in interest rates followed by a big jump in building permits.

The biggest negative factor holding the index back was a drop in average weekly manufacturing hours.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0