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Leading indicators rise in May

Wednesday, June 20, 2001 | 10:48 a.m.

NEW YORK -- A key gauge of economic activity rose 0.5 percent in May, a signal that the U.S. economy is poised to recover, albeit at a slow pace, an industry group said today.

The New York-based Conference Board said its Index of Leading Economic Indicators edged higher last month to 109.3 after moving up 0.1 percent in April. Analysts were expecting a 0.3 percent increase.

The "latest readings suggest the U.S. economy may be poised for some recovery," said Ken Goldstein, an economist for the Conference Board.

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