Good News Watch:NEW …

Good News Watch:

NEW YORK (AP) – A closely watched gauge of future economic activity rose a stronger-than-expected 0.5 percent in May, suggesting that the U.S. economy will continue sturdy expansion through the summer.

The Conference Board said Thursday its Composite Index of Leading Economic Indicators increased to 116.5 last month following rises of 0.1 percent in April and 0.8 percent in March.

Analysts had been expecting an increase of 0.4 percent in May.

Ken Goldstein, economist for the Conference Board, noted that the index has risen in 13 of the last 14 months. The latest numbers, he added, “reflect a robust economic environment this spring and point to more of the same this summer.”

It’s growing so fast, Goldstein said, that the Fed may have to raise interest rates to hold down price increases and “cool the economy”. It’s red hot! Listen closely to your mainstream media source to hear all about it.

(But hold not thy breath.)

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