Gauge of US economy posts 0.4 percent April gain

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Associated Press

Posted on May 22, 2014 at 10:00 AM

Updated Thursday, May 22 at 10:02 AM

WASHINGTON (AP) — A gauge designed to predict the economy's future health posted a solid gain in April, further evidence of stronger growth after a severe winter dampened activity.

The Conference Board says its index of leading indicators increased 0.4 percent in April following an upwardly revised 1 percent gain in March. The strength in April was led by improving housing and financial market conditions.

Conference Board economist Ken Goldstein says that stronger spending by consumers and higher business investment should bolster growth in coming months.

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