Dec. Leading Economic Index Hits Record High; First Time Since 2004 of 9 Consecutive Increases
WASHINGTON, Jan 21 (Reuters) - "A gauge of the U.S. economy's prospects rose for the ninth straight month to a record high in December, a private research group said on Thursday, indicating a recovery was set to pick up. The Conference Board said its index of leading economic indicators rose 1.1 percent to an all-time high of 106.4 last month.
Analysts forecast that the index would rise 0.7 percent, according to a poll by Reuters. "The leading economic index suggests that the pace of improvement could pick up this spring," said Ken Goldstein, an economist at the Conference Board."
MP: The Leading Index's ninth monthly increase from April to December 2009 is the first time since mid-2004 that the Leading Index has increased that many months in a row.