
April Leading Indicators Pick Up
The Conference Board, New York, reported its Leading Economic Index increased by 0.6 percent in April.
The index stands at 123.9, following no change in March and an 0.1 percent increase in February. The Coincident Economic Index increased by 0.3 percent in April to 113.6, following no change in March and an 0.2 percent increase in February. The Lagging Economic Index increased by 0.3 percent in April to 121.5, following an 0.5 percent increase in March and an 0.4 percent increase in February.
“Despite a slow start in 2016, labor market and financial indicators and housing permits all point to a moderate growth trend continuing in 2016,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research with The Conference Board.
Tim Quinlan, economist with Wells Fargo Securities, Charlotte, N.C., said the labor market contributed sharply to the increase, noting average weekly hours picked up and fewer people filed unemployment claims.