Index Sees Growth for Rest of ’98
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The Conference Board said its index of leading indicators rose 0.2% in March, its third straight monthly increase, forecasting healthy economic growth for the rest of the year.
The business group’s key barometer of future economic activity stood at 105.2 in March, up from 105 in February.
The leading index is designed to forecast economic activity six to nine months in advance. Six of its 10 components rose last month, led by stock prices and money supply.
The board’s index of coincident indicators for March, which looks at the economy’s current condition, rose 0.1%. The lagging indicators index, which looks at the past, increased 0.6%.
In a separate report, the Commerce Department said housing completions rose 2.5% in March to a seasonally adjusted annual rate of 1.488 million, after rising 10.4% in February.
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