An index of forward-looking economic indicators rose 0.5% in December, in line with expectations.

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The Bombay Stock Exchange (BSE) index trades at about 18 times forward earnings, which makes its shares more expensive than most other emerging economies, according to Thomson Reuters.

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The Institute for Supply Management's index of manufacturing activity, a forward-looking gauge of the strength of the U.S. manufacturing sector, came in at 53.7 on June 5, a level consistent with economic expansion.

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As TD Ameritrade notes, the index is a look back, not forward.

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