Bottom Line: The Index of Leading Economic Indicators, released last week, rose .1% in April. However, the March number was revised to show a .8% increase, the largest since May of 2003, right before US economic growth exploded upwards. Moreover, the Index rose 4.9% year-over-year in April, the largest 12-month gain since March 1984. "It's hard to see a second-half slowdown here. The increase in the Index of Leading Indicators during the past year is consistent with GDP growth of about 6.75%," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
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