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More good economic news

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More good economic news

Conference Board’s leading economic index rises in November.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.8% in November, following a 0.1% increase in October, and a 1.0% increase in September.   

"The LEI continues on a broad-based upward trend, suggesting gradually strengthening economic conditions through early 2014," said Ataman Ozyildirim, Economist at The Conference Board. "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." 

"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."

"November data reflect a U.S. economy that is expanding modestly, discounting some renewal in activity after the government shutdown," said Ken Goldstein, Economist at The Conference Board. "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 news, coupled with today’s upward revision of US Q3 GDP to 4.1% from the 3.6% previously reported, is a heartening sign that the US economy is finally beginning to gain traction after a moribund 4 years since the recession officially ended in the fall of 2009.

 

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