A series of key economic gauges showed a slight improvement during April compared with the prior month, reflecting the 'weak' state of the US economy, a business survey said today.
The Conference Board, a business research group, said in a monthly snapshot that its Leading Economic Indicators rose a meagre 0.1% in April, following a similar rise in March, as the US economy struggled for momentum.
'These data certainly reflect a weak economy, but not one in recession,' said Ken Goldstein, a Conference Board labour economist.
The small upticks in the leading indicators - which measure a range of economic activity - during April and March occurred after the economic barometer had declined in the prior five months.
The research group's latest survey may bolster the position of some economists who believe the world's largest economy will avoid a recession.
Some analysts, however, are maintaining their predictions that the US will endure a recession this year. The economy has been buffeted by a lingering housing market slump, a related credit crunch, increased job cuts and record high crude oil prices.
The Conference Board said improved stock prices and demand for home construction permits gave the leading indicators a small boost last month.
The research group cited consumer angst about economic well-being as one of the factors which weighed down the leading indicators. The overall report 'suggests that economic activity is likely to remain weak in the near term,' the survey said.
