Measure of US economy’s future health rises 0.6 per cent in April after March dip

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In this Wednesday, April 3, 2013, photo, construction is underway in Piscataway, N.J. The private Conference Board issues its April index of leading indicators on Friday, May 17, 2013. (AP Photo/Mel Evans)

WASHINGTON – A measure of the U.S. economy’s future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments.

The Conference Board says its index of leading indicators increased 0.6 per cent last month to a reading of 95. That followed a 0.2 per cent decline in March.

The index is intended to signal economic conditions three to six months out.

Conference Board economist Ken Goldstein said the index is 3.5 per cent higher at an annual rate than it was six months ago, suggesting expansion for the economy. He said the biggest risk at the moment is the drag from cuts in federal spending.

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