There's now light at the end of the global economic tunnel, reports the Center for International Business Cycle Research at Columbia University. For the first time since mid-1990, the center's leading index for 10 key countries excluding the U.S. has begun to move higher. "Since there is an average lag of six months between movements in the index and actual economic activity," says a spokesman, "we should see a perceptible improvement in overseas economies by early next year."
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