An index of leading economic indicators increased 0.1% in December after a 1% rise in November that was higher than originally reported, the New York-based Conference Board said Jan 23.
The increase was lower than economists’ medium forecast of a 0.2% rise, Bloomberg News reported.
“It’s still consistent with a stronger economy in 2014,” Scott Anderson, chief economist at Bank of the West, told Bloomberg. “We expect a healthier consumer, better business spending and somewhat faster job growth.”
The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.