Happy days are here again? Also see Dr. Doom Has Some Good News.
The index of US leading economic indicators rose in May for a second consecutive month and a regional factory gauge climbed more than forecast in June, showing the worst recession in five decades may soon end.
The leading index increased 1.2 percent after a 1.1 percent gain in April, the best back-to-back performance since November-December 2001, the Conference Board reported yesterday. The Federal Reserve Bank of Philadelphia’s general economic index jumped to the highest level in nine months.