After slowing in the earlier part of the year, the US economy looks to get back on track, according to the Conference Board's Leading Economic Index

After slowing in the earlier part of the year, the US economy looks to get back on track, according to the Conference Board's Leading Economic Index. The LEI is a closely watched index made up of 10 components which tend to correlated to future economic activity (over the next 3 to 6 months). The index climbed 0.4% in April while March was revised up to a 1% increase. That marks the third consecutive month of growth. In April, gains were driven by improved housing and financial market conditions. Overall, 5 of the 10 indicators gained for the month. The Conference Board believes that if US consumers continue to spend, and businesses pick up the pace of investments, GDP could close in on 3% for the year. Clearly, this is a very positive outlook for those concerned about economic growth. (VIEW LINK)