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US leading economic indicator points to firming growth

[WASHINGTON] A gauge of future US economic activity increased solidly in May, boosted by a surge in building permits, suggesting growth was regaining speed after stumbling in the first quarter.

The Conference Board said on Thursday its Leading Economic Index increased 0.7 per cent last month after a similar gain in April. Economists polled by Reuters had forecast the index rising 0.4 per cent.


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