Feb. 18 The Conference Board Leading Economic Index (LEI) for the U.S. rose in January for the third consecutive month, The Conference Board reported today, signalling that the economic recovery is gaining strength.
The index gained 0.3% last month, 1.2% in December and 1.1% in November.
"The cumulative change in the U.S. LEI over the past six months has been a strong 9.8 %, annualized," said Ken Goldstein, Conference Board economist. "This signals continued economic recovery at least through the spring."
The U.S. LEI has been rising for almost a year, driven by improved financial markets and manufacturing, The Conference Board stated. Rising consumer expectations and housing permits have also contributed to a lesser degree.
Current economic conditions as measured by The Conference Board Coincident Economic Index have also improved somewhat since July, pushed by rising industrial production.