Yahoo! News: Economic indicators up more than expected in June
NEW YORK – More plans to build homes, higher stock prices and fewer people filing first-time claims for jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June.
It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year.
The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent. May's reading was revised up to a gain of 1.3 percent from 1.2 percent, while April was scaled back to 1 percent growth from 1.1 percent.
The group also said activity in the six-month period through June rose 2 percent, with an annual growth rate of 4.1 percent. That's the strongest rate since the first quarter of 2006.
The index is meant to project economic activity in the next three to six months.
If these conditions continue, "expect a slow recovery this autumn," said Conference Board economist Ken Goldstein. ...
It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year.
The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent. May's reading was revised up to a gain of 1.3 percent from 1.2 percent, while April was scaled back to 1 percent growth from 1.1 percent.
The group also said activity in the six-month period through June rose 2 percent, with an annual growth rate of 4.1 percent. That's the strongest rate since the first quarter of 2006.
The index is meant to project economic activity in the next three to six months.
If these conditions continue, "expect a slow recovery this autumn," said Conference Board economist Ken Goldstein. ...
The economy has to recover at some stage. Most likely towards the end of the year.
Posted by: Tech | Jul 21, 2009 at 07:32 AM