Recovery Strengthens: Leading Economic Index Rises in January for the 10th Straight Month
Submitted by CARPE DIEM
The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.3% in January, following a 1.2% gain in December, and a 1.1% rise in November. Says Ataman Ozyildirim, Economist at The Conference Board: “The U.S. LEI has risen steadily for nearly a year, led by an improvement in financial markets and a manufacturing upturn. Consumer expectations and housing permits have also contributed to these gains over this period, but to a lesser extent – especially in recent months. Current economic conditions, as measured by The Conference Board Coincident Economic Index (CEI), have also improved modestly since July 2009, helped by strengthening industrial production, despite continued weakness in employment.”
Adds Ken Goldstein, Economist at The Conference Board: “The cumulative change in the U.S. LEI over the past six months has been a strong 9.8%, annualized. This signals continued economic recovery at least through the spring.”
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