Leading Economic Indicators Rise 0.1% in April

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he Conference Board said Thursday its index of leading U.S. economic indicators rose 0.1% in April, the 12th increase in the past 13 months.

Last month's increase followed a revised March increase of 0.8%, the biggest gain since May 2003.

The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.

The Conference Board's index of coincident indicators, a gauge of current economic activity, rose 0.3% in April after a 0.2% increase the previous month. The index tracks payrolls, incomes, sales and production.

The index of lagging indicators rose 0.2% last month, after a 0.1% decline.

Economists had projected a 0.2% increase in the leading index, Bloomberg said.

The board said a widening in the spread in the yield between the Treasury's 10-year note and the overnight bank lending rate, an increase in building permits, higher stock prices and an increase in the money supply all made positive contributions to the index.

However, a decrease in weekly manufacturing hours, manufacturers' new orders for consumer goods, vendor performance, consumer expectations, and orders for non-defense capital goods restrained the rise. Unemployment insurance claims also held back the rise in the total index.

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