The composite index of Leading Economic Indicators was up 0.4% in April following a revised 1.0% increase in March, first reported as a 0.8% climb, the Conference Board reported Thursday.
The coincident index gained 0.1% in April after a revised 0.3% rise in March, first reported as a 0.2% increase while the lagging index rose 0.2% after a revised 0.7% gain in March, first reported as a 0.6% increase.
The LEI stands at 101.4, the coincident index is at 108.5 and the lagging index is at 123.3 The LEI has a baseline of 100, which reflects the level in 2004.
Economists polled by Thomson Reuters predicted LEI would grow 0.3% in the month.
"Despite a brutal winter which brought the economy to a halt, the overall trend in the leading economic index has remained positive," said the Conference Board economist Ken Goldstein. "If consumers continue to spend, and businesses pick up the pace of investment, the industrial core of the economy will benefit and GDP growth could move closer towards the 3 percent range."
"The LEI rose for the third consecutive month, driven largely by improving housing and financial market conditions," said Ataman Ozyildirim, an economist at The Conference Board. "This latest report suggests the economy will continue to expand, and may even pick up steam through the second half of the year."
