By CHRISTOPHER S. RUGABER, Associated Press
WASHINGTON (AP) — A measure of future U.S. economic activity rose in May, a sign the economy is likely to keep growing, though at a tepid pace.
The Conference Board says that its index of leading economic indicators rose 0.3 percent last month, after a 0.1 percent drop in April. April's drop was the first in seven months.
An increase in building permits and rising new orders in a private survey of manufacturers drove the index higher.
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