A report released by the Conference Board on Friday showed that its index of leading U.S. economic indicators climbed to its highest level in over a decade in February.
The Conference Board said its leading economic index rose by 0.6 percent in February, matching the increases seen in the two previous months. The index had been expected to rise by 0.4 percent.
"Widespread gains across a majority of the leading indicators points to an improving economic outlook for 2017, although GDP growth is likely to remain moderate," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board.
He added, "Only housing permits contributed negatively to the LEI in February, reversing gains over the previous two months."
The report said the coincident economic index increased by 0.3 percent in February after inching up by 0.1 percent in January, while the lagging economic index rose by 0.2 percent for the second straight month.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.