No recession
Weak, but holding steady
Anchors away
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DJ US Conference Board: Apr Leading Index +0.1%
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By Michael S. Derby
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The U.S. economy appears to be skirting an outright recession, according to a report released Monday.
The Conference Board, a private research group, reported that its index of leading economic indicators rose by an as-expected 0.1% in April to a reading of 102.0, matching the gain seen in March.
"The data certainly reflect a weak economy but not one in recession," said Conference Board economist Ken Goldstein. He added, "the small increases in the leading index in both March and again in April could be a signal that the economy may not weaken further."
The leading index was boosted by stock prices, interest rate spreads and housing permits, and those factors offset negative contributions from average weekly hours and consumer expectations. The Conference Board noted that the six-month rate of decline for the leading index slowed to a 1.2% drop in April, from a 2.4% slowdown between July 2007 and January 2008.
In the report, the private research group said that its index of coincident indicators held steady during April at a reading of 106.9, after a flat performance in March as well. Meanwhile, the index of lagging indicators rose by 0.1% to 112.2, following March's 0.4% rise.
-By Michael S. Derby, Dow Jones Newswires; 201-938-4192; michael.derby@dowjones.com
(END) Dow Jones Newswires
May 19, 2008 10:00 ET (14:00 GMT)
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