U.K. Leading Index Rises In April

(RTTNews) - U.K.'s leading index rose at a faster rate in April, the Conference Board said Friday.

The Conference Board Leading Economic Index for the U.K., a measure of perceptions on economic conditions in the future, came in at 110.7 in April, rising 0.5 percent from the previous month. This follows a 0.3 percent rise in both March and February.

Six out of the seven sub-indices contributed positively to the overall index in April.

The Conference Board Coincident Economic Index, a measure of the current economic activity, rose 0.2 percent in April after rising 0.2 percent in both March and February.

"Despite April's increase in the LEI for the U.K., the rise in the index has moderated over the past several months, suggesting that a further acceleration of GDP growth is unlikely in the near term," Bert Colijn, senior economist at the Conference Board said.

"However, the ongoing improvements in the labor market are helping to boost consumer confidence, which should allow the UK economy to continue to outperform its Euro Area counterparts in the months ahead."