US economy gaining momentum; trend to continue: The Conference Board
US' Leading Economic Index (LEI) increased (17-Feb-2011) 0.1% in Jan-2011 to 112.3 (2004 = 100), following a revised 0.8% increase in Dec-2010 and a 1.1% increase in Nov-2010 according to The Conference Board. The Coincident Economic Index (CEI) increased 0.1% in Jan-2011 to 102.1 (2004 = 100), following a revised 0.3% increase in Dec-2010 and a 0.2% increase in Nov-2010. The Lagging Economic Index (LAG) declined 0.1% in Jan-2011 to 107.9 (2004 = 100), following a 0.2% increase in Dec-2010 and 0.3% decline in Nov-2010. [more]
The Conference Board: “With January’s slight increase, following two large gains, the U.S. LEI is still pointing to economic expansion in the coming months. Falling housing permits and weakening labor market indicators were barely offset by the continued positive contributions of the financial components. The LEI remains on a rising trend, with its growth rate picking up in recent months. However, current economic conditions, as measured by the coincident economic index, while improving slowly, remain weak," Ataman Ozyildirim, economist. Source: Company Statement, 17-Feb-2011.
The Conference Board: “The economy gained some momentum in late fall, and the latest data suggest that trend will continue. The cumulative change in the U.S. LEI over the last six months is a sharp 3.0 percent, signaling continued expansion, Ken Goldstein, economist. Source: Company Statement, 17-Feb-2011.