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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| July 05, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

U.S. growth prospects brighten

The Economic Cycle Research Institute's U.S. leading index rose to 133.7 in the week ended June 24 from 133.4 in the prior week. The 4-week annualized growth rate rose to 0.8%. That's up from 0.2% in the prior week and -0.4% in the week ended June 3.

Japanese business sentiment up

Confidence at Japan's large manufacturers showed the first gain in 3 quarters, with the closely watched diffusion index rising to 18 in June from 14 in March, according to the Bank of Japan's "Tankan" survey. That was better than expected. Sentiment improved broadly, from small manufacturers to big service firms. The BoJ expects the headline index to dip to 17 in Sept.

Blair downplays EU budget deal

U.K. PM Tony Blair, who assumed the EU presidency for 6 months on Fri., said "We will have to see how well we do." EU Commission President Jose Manuel Barroso said member states had to avoid seeing EU summits as "boxing matches." ...

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