Index of Leading Indicators Rises 0.5% in January

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he Conference Board said Thursday its index of leading economic indicators rose 0.5% in January, led by a rise in consumer expectations and stock prices.

This was the 10th straight increase, the longest such stretch since 1983, the board said. It was also the largest jump since 0.5% in October and followed a 0.2% rise the month before.

The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.

Conference Board economist Ken Goldstein said the continued rise in the index points to "sustained economic growth, perhaps through the first half of this year."

The board said besides consumer expectations and stock prices, average weekly factory hours and vendor delivery times and a decline in average claims for jobless benefits contributed to the rise.

The index of coincident indicators, which gauges current economic activity, rose 0.3% in January after showing no change in December. The index of lagging indicators was unchanged.

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