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Originally published June 19, 2014 at 7:22 AM | Page modified June 19, 2014 at 7:26 AM

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Gauge of US economy gains 0.5 percent in May

A gauge designed to predict the economy's future health increased for a fourth month in May, providing further evidence that the economy is gaining strength after a harsh winter caused activity to go into reverse.


AP Economics Writer

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WASHINGTON —

A gauge designed to predict the economy's future health increased for a fourth month in May, providing further evidence that the economy is gaining strength after a harsh winter caused activity to go into reverse.

The Conference Board says its index of leading indicators increased 0.5 percent in May, an improvement from a revised 0.3 percent gain in April. The strength was broadly based with positive contributions from all the financial and labor components of the index.

Conference Board Economist Ken Goldstein says that the economy continued to gain traction in May. He says the biggest challenge going forward will be to sustain a rise in income growth to drive consumer spending.



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