The US Leading Economic Index rose to 98.3 in November (2004 = 100), an increase of 0.8% from October, which had increased by 1% compared to September, says The Conference Board.
Ataman Ozyildirim, an Economist at The Conference Board, said:
“The LEI (Leading Economic Index) continues on a broad-based upward trend, suggesting gradually strengthening economic conditions through early 2014.”
“Improving labor markets and new orders in manufacturing, combined with strong financial indicators, drove November’s gain”
“However, consumers’ outlook for the economy and the drop in housing permits continue to pose risks in 2014.”
Ken Goldstein, also an Economist at The Conference Board, said:
“November data reflect a U.S. economy that is expanding modestly, discounting some renewal in activity after the government shutdown. The coincident economic index shows the economy expanding at a relatively slow pace.”
“The trend in the leading economic index is stronger, signaling for some time that the economy is developing forward momentum, and will continue to strengthen through early 2014.”
The US Coincident Economic Index (CEI) rose by 0.4% in November compared to the previous month. October had seen a rise of 0.1% and September 0.3%, The Conference Board informed.
The Lagging Economic Index (LAG) stayed at 119.9 in November, after increasing 0.3% in October and 0.6% in September.
December has been a good month for US economic news:
- US Census Bureau figures showed that retail sales rose 0.7% in November.
- The Department of Labor informed that unemployment fell to 7%, the lowest level since 2008.
- The Institute of Supply Management reported that US manufacturing index increased to 57.3, a two-year record.