Daily News: May 23, 2014

Conference Board: GDP Growth Could Move Closer to 3%


The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.4% in April to 101.4 (2004 = 100), following a 1.0% increase in March, and a 0.5% increase in February.

“The LEI rose for the third consecutive month, driven largely by improving housing and financial market conditions,” said Ataman Ozyildirim, economist at The Conference Board. “This latest report suggests the economy will continue to expand, and may even pick up steam through the second half of the year.”

“Despite a brutal winter which brought the economy to a halt, the overall trend in the leading economic index has remained positive,” said Ken Goldstein, economist at The Conference Board. “If consumers continue to spend, and businesses pick up the pace of investment, the industrial core of the economy will benefit and GDP growth could move closer towards the 3% range.”

The Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.1% in April to 108.5 (2004 = 100), following a 0.3% increase in March, and a 0.3% increase in February.

The Conference Board Lagging Economic Index (LAG) for the U.S. increased 0.2% in April to 123.3 (2004 = 100), following a 0.7% increase in March, and a 0.2% increase in February.