Leading indicators suggest pickup in late '09
The Conference Board's measure of leading indicators ticks up 1% in April, marking the first increase since June 2008.
WASHINGTON (Reuters) -- A forward-looking measure of the U.S. economy in April posted its first rise since June 2008, a private research firm said Thursday, suggesting a pickup in growth awaits the economy in the second half of 2009.
The index of leading indicators, which is supposed to forecast economic trends six to nine months ahead, rose 1% in April after a revised 0.2% fall the previous month, the New York-based Conference Board said.
"The leading indicators suggest that while the recession will continue in the near term, the declines will be less intense," said Ken Goldstein, a Conference Board economist.
"If the indicators continue on the current track, that point might be reached in the second half of the year," Goldstein said.