Leading indicators rise for second straight month |
| MarketWatch - Jun 19, 2008 |
A key gauge of the economy rose slightly in May for a second straight month, indicating that while the economy is very weak, better times may be ahead.
The index of leading indicators, which is released by the Conference Board and attempts to forecast turning points in the economy, rose 0.1% in May, matching April's gain.
"Latest data suggest the economy has not fallen into a contraction and may not undergo one in the second half of the year," said Ken Goldstein, labor economist at the Conference Board. "In fact, the economy might even begin to turn a corner early next year."
Four of the 10 leading indicators that make up the leading index rose in May, with the largest positive contribution from the interest rate spread. The largest negative contribution came from the real money supply.
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- Posted: 2008-06-19 10:06:35
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