BLOOMBERG: The index of U.S. leading indicators rose for a fourth consecutive month, manufacturing surged in the Philadelphia area and jobless claims climbed less than forecast, signaling the world’s largest economy is accelerating.
“The soft patch is behind us,” said Janathan Basile, an economist at Credit Suisse in New York. “We have a little more momentum. Employers are getting a bit more optimistic about the outlook and don’t need to cut costs like before.”
The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 percent for a second consecutive time, capping the biggest back-to-back gains since February- March, the New York-based research group said today. Factories in the Philadelphia region expanded at the fastest pace of the year, and the number of workers seeking jobless benefits over the past four weeks fell to the lowest level in two years… (more)
