Economic Indicators Point to Modest Growth
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NEW YORK (AP) – A barometer of future economy growth rose a tepid 0.1 percent in March, hinting that America should expect only a meager economic expansion in the coming months, a private research group said Thursday.
The Conference Board said its index of leading economic indicators climbed an expected 0.1 percent to 137.4 last month. The index is designed to forecast economic activity over the next three to six months.
The latest reading reverses two consecutive months of declines. Despite the latest increase, the index is still 0.9 percent below its most recent high in January 2006 and 0.8 percent below its March 2006 level.
The reading tracks 10 economic indicators. Six of those readings were positive in March: initial unemployment claims, weekly manufacturing hours, real money supply, vendor performance, building permits, and manufacturers’ new orders.
The negative contributors were stock prices, consumer expectations, interest rate spread and manufacturers’ new orders.
