New York, NY, May 17, 2013 -- The index of U.S. leading indicators rose more than expected in April, according to The Conference Board.
The research group's gauge of the outlook for the next three to six months climbed 0.6% in April after falling a revised 0.2% in March.
The median forecast of economists called for a 0.2% increase.
Seven of the 10 indicators in the leading index contributed to the increase, including an increase in building permits.
“The biggest risk right now is the adverse impact of cuts in federal spending,” Ken Goldstein, an economist at the Conference Board, said in a press release.
“The biggest positive factor is the potential for improvement in the recovering housing and labor markets.”