WASHINGTON, May 21 (Reuters) - A forward-looking measure of the U.S. economy in April posted its first rise since June 2008, a private research firm said on Thursday, suggesting a pickup in growth awaits the economy in the second half of 2009.
The index of leading indicators, which is supposed to forecast economic trends six to nine months ahead, rose 1 percent in April after a revised 0.2 percent fall the previous month, the New York-based Conference Board said.
"The leading indicators suggest that while the recession will continue in the near term, the declines will be less intense," said Ken Goldstein, a Conference Board economist.
"If the indicators continue on the current track, that point might be reached in the second half of the year," Goldstein said.
Wall Street economists had forecast a rise of 0.8 percent after an initial 0.3 percent March drop. (Reporting by Nancy Waitz; Editing by Neil Stempleman)