Key Indicator Projects Continued Growth

A major U.S. economic forecasting gauge rose for a sixth straight month in March, signaling the economy should continue to grow at a healthy pace, a private research group said. The Conference Board said its index of leading economic indicators, a measure of future economic activity, rose 0.1% in March, in line with economists’ expectations. The increase followed a revised 0.3% increase in February, which was previously reported as a 0.2% rise. Five factors in the leading index were positive, led by order backlogs and stock prices. Three factors were negative contributors, led by building permits and consumer confidence. Two components, the average workweek and manufacturers’ new orders for non-defense and capital goods, were unchanged. The report also said the index of coincident indicators, a measure of current economic conditions, rose 0.2% in March after an upwardly revised 0.4% increase in February.