The index of U.S. leading indicators increased for a ninth month in March and Americans’ confidence rose for a fourth week, signaling the expansion may withstand higher fuel costs.
The Conference Board’s gauge of the outlook for the next three to six months rose 0.4 percent after a revised 1 percent gain in February that was larger than previously estimated, the New York-based group said today. The Bloomberg Consumer Comfort Index climbed to minus 42.6 in the period to April 17, the best reading since the end of February.
Further improvement in the labor market is needed to help accelerate consumer spending, which accounts for about 70 percent of the economy, and sustain recent gains in production. Manufacturing in the Philadelphia area slowed more than forecast and jobless claims fell less than projected, separate data today showed, underscoring the Federal Reserve’s view of a “moderate” economic recovery.
“The pluses continue to outweigh the minuses for the economy,” said Jim O’Sullivan, chief economist at MF Global Inc. in New York. “There’s been a bit of a hit to the economy from rising energy prices, but it still doesn’t look huge. The caveat is, this could change if oil prices continue to rise.”
http://www.bloomberg.com/news/2011-04-21/index-of-leading-economic-indicators-in-the-u-s-rises-0-4-.html
The Conference Board’s gauge of the outlook for the next three to six months rose 0.4 percent after a revised 1 percent gain in February that was larger than previously estimated, the New York-based group said today. The Bloomberg Consumer Comfort Index climbed to minus 42.6 in the period to April 17, the best reading since the end of February.
Further improvement in the labor market is needed to help accelerate consumer spending, which accounts for about 70 percent of the economy, and sustain recent gains in production. Manufacturing in the Philadelphia area slowed more than forecast and jobless claims fell less than projected, separate data today showed, underscoring the Federal Reserve’s view of a “moderate” economic recovery.
“The pluses continue to outweigh the minuses for the economy,” said Jim O’Sullivan, chief economist at MF Global Inc. in New York. “There’s been a bit of a hit to the economy from rising energy prices, but it still doesn’t look huge. The caveat is, this could change if oil prices continue to rise.”
http://www.bloomberg.com/news/2011-04-21/index-of-leading-economic-indicators-in-the-u-s-rises-0-4-.html
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