U.S. leading economic indicators rise 1.1 percent in November

14:09, December 18, 2010      

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U.S. economy in the near future is expected to rise at modest pace, according to an influential industry survey released on Friday.

The Conference Board, an independent business membership and research association says its index of leading economic indicators increased 1.1 percent in November. It edged up 0.5 percent in October.

"The U.S. economy is showing some sparks of life in late 2010. Overall, the indicators point to a mild pickup after a slow winter. Looking further out, possible clouds on the medium term horizon include weaknesses in housing and employment,"said Ken Goldstein, economist at The Conference Board.

The index has grown steeply since April 2009 on the strength of the stock market, record-low interest rates and a rebound in manufacturing. But the rate of expansion tapered off this summer as U.S. economic growth slowed. Latest data showed that Americans grew more confident about the economy, stocks rose and fewer people filed for unemployment benefits, boosting the prospects for consumer spending in coming months.

The U.S. Federal Reserve expected that the U.S. economic growth could be 2.4 percent to 2.6 percent in 2010. But the growth level is considered too low to bring down the near double-digit unemployment rate.

Source: Xinhua
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