Leading Economic Indicators Rise 0.1% in February

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he index of leading U.S. economic indicators rose in February, the third increase in four months, the Conference Board reported Thursday.

The New York-based board said its gauge of the economy’s performance over the next three to six months rose 0.1% for February after a 0.3% decline in January.

“The Leading Economic Indicators are pointing to growth this spring,” said Conference Board economist Ken Goldstein. “The data reflect an economy that is continuing to improve this winter, and the forward indicators suggest more of the same in the next few months.”

The coincident index, an index of current economic activity, increased in February, and the strength in the coincident index continues to be widespread, the board’s report said.

At the same time, real GDP increased at about a 4.0% average rate in the second half of 2004, up from 3.3% in the second quarter, it said.

Fewer jobless claims and higher stock prices helped lift the index, which suggests growing employment and will keep people spending and the economy growing, Bloomberg reported.

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