US economic index rises for first time in six months

By DPA,

Washington : The US economy got a dose of good news Thursday as a leading economic index rose for the first time in six months, according to a private survey.

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The Conference Board’s gauge increased 0.1 percent, after falling 0.3 percent in February, the New York-based research group said.

The index is a measure of the direction of the economy over the next three to six months.

Confidence in the economy has been spurred by an influx of cash into the banking system and the lowering of benchmark interest rates by the Federal Reserve, analysts said.