Leading Indicators Up 11th Straight Month; Hits Record High

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Economic Update: US Leading Economic Indicators

The Conference Board reported that their Leading Economic Index for February increased +0.1%, which was in line with the consensus for an increase of +0.1%.

The measure of the nation’s economic prospects rose for the eleventh straight month following gains of 0.3% in January and 1.2% in December and stands at a record high.

Says Ataman Ozyildirim, Economist at The Conference Board: "The LEI for the U.S. has risen rapidly for almost a year now and it has reached its highest level. But, the sharp pick up in the LEI appears to be stabilizing. As the economy moves from recovery into early phases of an expansion, the leading economic index points to moderately improving economic conditions in the near term. Correspondingly, the coincident economic index has been rising since July 2009, albeit slightly because of continued weakness in employment"

Adds Ken Goldstein, Economist at The Conference Board: "The indicators point to a slow recovery this summer. Going forward, the big question remains the strength of demand. Without increased consumer demand, job growth will likely be minimal over the next few months"

The Conference Board Coincident Economic Index (CEI) for the U.S. rose +0.1% in February.

 

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