Saturday, October 25th8.6°C
23888
22501

Measure of US economy's future health rises 0.4 per cent in April, pointing to stronger growth

WASHINGTON - 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 per cent in April following an upwardly revised 1 per cent 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 per cent rate in the January-March quarter but many analysts expect growth will bounce back to an annual rate over 3.5 per cent in the current April-June quarter and will remain above 3 per cent 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.

The Canadian Press


Read more Business News

23901


Recent Trending




Today's Market
S&P TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



22970

FEATURED Property
20976481080 Sunnyside Road
10089415 bedrooms
$459,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


22707