Economic Indicators Pointing Upward

Article excerpt

Byline: Mark Basch, The Times-Union

It looks like economic growth will be continuing for the next few months, according to local and national indicators of future activity.

The U.S. Composite Index of Leading Economic Indicators rose 0.1 percent in April after jumping a revised 0.8 percent in March, the Conference Board reported Thursday. And according to the University of North Florida's Local Economic Indicators Project, the index of leading indicators for the Jacksonville area rose by 0.48 points in April to 106.46, after rising a revised 0.08 points in March.

"The leading economic index remains on an upward trend, suggesting continued strong economic and job growth through the third quarter," said a statement by Conference Board economist Ken Goldstein.

Goldstein said concerns about some issues, such as rising gasoline prices, should not soften the basic fundamentals of the economy.

"Even a short-term hike in interest rates is probably not likely to stifle economic growth," he said.

A month ago, LEIP expressed concern that the Jacksonville economy might start lagging behind the rest of the country. …