An index of leading economic indicators rose in November from an increase the previous month, the New York-based Conference Board said Nov. 27.
The index climbed 0.2% after a 0.7% rise in October. Economists had forecast no change, Bloomberg News reported.
The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.
• Manufacturing activity in the Chicago area expanded at a slower pace in October, according to a report from the Institute for Supply Management.
ISM’s business index declined to a reading of 63 from 65.9 in September. Readings more than 50 indicate expansion. Economists had forecast a reading of 55, Bloomberg reported.
Chicago is a major center of U.S. manufacturing, which is one of trucking’s largest and most important customers.
• Consumer confidence rose in November, according to the Thomson Reuters/University of Michigan consumer sentiment index released Oct. 27.
The month’s final index rose to a reading of 75.1 from 73.2 in October.
The index was higher than a preliminary 72 reading two weeks ago and the economists’ median forecast of a 73.1 reading, Bloomberg reported.
