Leading Economic Indicators Show Solid Gains

A rise in the factory workweek and a still favorable rate spread in the bond market (short rates lower than long rates) are the leading positives in April's index of leading economic indicators, up a solid 0.4 percent. Holding back the index in April were the stock market and a step back in building permits. Though still solid, gains in the LEI have been easing back which the report notes lowers the chances that economic growth will accelerate later this year.