U.S. Leading Economic Index Rises 0.6% In November, In Line With Estimates

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Signaling continued moderate growth through the winter, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators increased in line with estimates in the month of November.

The Conference Board said its leading economic index rose by 0.6 percent in November following a downwardly revised 0.6 percent increase in October.

Economists had expected the index to climb by 0.6 percent compared to the 0.9 percent advance originally reported for the previous month.

The continued increase reflected positive contributions from eight of the ten indicators that make up the leading index, including the interest rate spread, the ISM new orders index, stock prices, and the Leading Credit Index.

Ataman Ozyildirim, an economist at the Conference Board, said, "Widespread and persistent gains in the LEI point to strong underlying conditions in the U.S. economic expansion."

The report also said the coincident economic index rose by 0.4 percent in November after edging up by 0.2 percent in October.

Industrial production and employees on non-farm payrolls made the largest positive contributions to the coincident index.

Additionally, the Conference Board said the lagging economic index increased by 0.3 percent in November after coming in unchanged in October.

The increase reflected positive contributions from commercial and industrial loans outstanding, the ratio of consumer installment credit to personal income and the change in labor costs.

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