This article is from Tuesday’s Nashville Business Journal. Anything that talks about the market and economy improving makes us happy over at the CityLiving Team.
Report: Economic Indicators Improving
There’s yet another sign that the recession may be easing.
The Conference Board said Monday that its index of leading economic indicators rose 0.7 percent in June. That follows a 1.3 percent increase in May and a 1 percent rise in April.
"The recession has been losing steam since the spring, although very large job losses continue,” Ken Goldstein, a Conference Board economist, said in a news release. “Nevertheless, confidence is slowly rebuilding. Financial markets are less volatile. Even the housing market is stabilizing. If these trends continue, expect a slow recovery this autumn."
Seven of the 10 indicators that make up the New York-based Conference Board’s index rose, including building permits, stock prices and manufacturers’ new orders for consumer goods.
On Friday, the government reported new residential construction was up 3.6 percent in June.
Still, high unemployment continues to put a damper on things. Tennessee’s unemployment reached 10.8 percent in June.