US economic index climbs for fifth straight month
September 22nd, 2009 - 12:24 am ICT by IANSWashington, Sep 21 (DPA) A key gauge of US economic health rose for the fifth straight month in August, according to a private research group Monday, as the country continues to look for signs that its deepest recession in decades is over.
The New York-based Conference Board’s index of leading economic indicators rose 0.6 percent on the month, following a revised 0.9-percent rise in July and 0.8-percent increase in June. The July figure was revised upward from an earlier estimate of 0.6 percent.
“This suggests that the recession is bottoming out. These numbers are consistent with the view that after a very severe downturn, a recovery is very near. But, the intensity and pattern of that recovery is more uncertain,” Conference Board economist Ken Goldstein said.
It was the first time since 2004 that the index had risen for so many months in a row. The rise was in line with analyst estimates, who predicted a 0.7-percent increase, according a Bloomberg financial news survey.
The index evaluates the economy’s expected performance over the next three to six months.
- US stocks mixed amid thin trading (Lead) - Dec 28, 2011
- US economic rebound smaller than thought, but Fed optimistic - Nov 25, 2009
- Wall Street ends May lower, snapping five-month winning streak - Jun 01, 2011
- US stocks flat after Fed-fuelled rally - Mar 28, 2012
- US stocks mixed amid tepid data - Jan 13, 2012
- Wall Street takes breather after Fed-fuelled rally (Lead) - Mar 28, 2012
- South Korea's consumer price growth hits 14-month low - Mar 02, 2012
- Inflation nudges up in June, close to double digits - Jul 14, 2011
- US recovery splutters fuelling fears of second recession - Jul 30, 2010
- Fears of second recession in US loom - Jul 31, 2010
- US stocks climb on hope that recession could be ending - Jun 19, 2009
- US stocks end higher amid European optimism (Lead) - Jan 13, 2012
- US adds less jobs in a sluggish economy (Lead) - Dec 04, 2010
- Growth slows in US service sector - Dec 06, 2011
- Wall Street cheers strong gains in first quarter - Apr 01, 2011
Tags: analyst estimates, bloomberg financial news, decades, downturn, economic health, economic index, economist, economy, gauge, index of leading economic indicators, intensity, ken goldstein, leading economic indicators, private research, recession, research group, signs, six months
