Leading Economic Index Increases for the 11th Consecutive Month, First Time in Almost Six Years
The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.1% in February, following a 0.3% gain in January, and a 1.2% rise in December.
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."
MP: The LEI has increased now in every month since last April, marking 11 straight monthly increases in the index for the first time since mid-2003 to mid-2004, almost six years ago.