Index of Leading Economic Indicators Rise 0.2%

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he Conference Board said Thursday the index of leading U.S. economic indicators rose 0.2% in December, the ninth straight monthly increase.

"All indicators point to continued economic growth," Ken Goldstein, Conference Board chief economist, said in a statement. "Consumer spending growth is relatively strong and the strong recovery in business investment in equipment and software remains on track."

The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months. It rose a revised 0.2% in November.

Seven of the 10 indicators the board uses to derive the index contributed to the rise including increases in building permits, consumer confidence and factory orders for non-defense capital goods.

The fourth consecutive month of declines in money supply and a drop in average weekly hours worked at manufac-turers subtracted from the index. The yield curve was unchanged.

The board's index of coincident indicators, a gauge of current economic activity, rose 0.1% in December after a revised increase of 0.3% the month before. The index tracks, payrolls, incomes, sales and production.

The index of lagging indicators rose 0.1% compared with a 0.3% decline in November.

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