MW: Increase in leading indicators could point to growth
The recession will be less intense in the near term, and there could even be some growth in the second half of the year, the Conference Board said Thursday.
The index of leading economic indicators rose 1% in April - the first increase in seven months -- following a revised dip of 0.2% in March, the private research firm said.
"The question is how long before declines in activity give way to small increases. If the indicators continue on the current track, that point might be reached in the second half of the year," said Ken Goldstein, economist at the Conference Board.
Of the 10 indicators that comprise the index, seven rose in April, with the largest positive contribution from stock prices. The largest negative contribution came from the real money supply.
For the first time in one-and-a-half years, the strengths among the index's components exceeded the weaknesses, the Conference Board noted. Over prior months, weakness had been widespread among components.
