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Economic Index Points To Slow Economic Recovery Mid Year

03/18/2010
The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.1 percent in February, after a 0.3 percent gain in January and a 1.2 percent rise in December. The trend, according to the organization indicates a slow recovery heading into this summer following the worst historical recession period for the nation.

"The LEI for the U.S. has risen rapidly for almost a year now and it has reached its highest level. But, the sharp pick up in the LEI appears to be stabilizing," said Ataman Ozyildirim, economist at The Conference Board, in a press statement.

"As the economy moves from recovery into early phases of an expansion, the leading economic index points to moderately improving economic conditions in the near term. Correspondingly, the coincident economic index has been rising since July 2009, albeit slightly because of continued weakness in employment," he added.

Ken Goldstein, Conference Board economist said the indicators point to a slow recovery this summer.

"Going forward, the big question remains the strength of demand. Without increased consumer demand, job growth will likely be minimal over the next few months," said Goldstein.

The next release is scheduled for April 19, 2010.

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