The Conference Board Leading Economic Index rose 0.1% in January to 112.3, following a 0.8% rise in December and a 1.1% increase in November.
“The economy gained some momentum in late fall, and the latest data suggest that trend will continue,” said Ken Goldstein, an economist with The Conference Board. “The cumulative change in the U.S. Leading Economic Index over the last six months is a sharp 3.0%, signaling continued expansion.”
“With January’s slight increase, following two large gains, the U.S. Leading Economic Index is still pointing to economic expansion in the coming months,” said Ataman Ozyildirim, another economist with The Conference Board. “The LEI remains on a rising trend, with its growth rate picking up in recent months. However, falling housing permits and weakening labor market indicators were barely offset by the continued positive contributions of the financial components.”
Ozyildirim added: “Current economic conditions, as measured by the coincident economic index, while improving slowly, remain weak.”