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Washington - A gauge of future US economic activity rose to a five-month high in December as labor market conditions improved, the Conference Board said on Thursday, pointing to continued momentum in the recovery.
The group’s Leading Economic Index increased 0.4% to 94.3, the highest level since July, after rising by a revised 0.2% in November. Economists polled by Reuters had expected the index to increase 0.7% after a previously reported 0.5% gain.
“The LEI provides some reason for cautious optimism in the first half of 2012,” said Ken Goldstein an economist at the Conference Board. “This somewhat positive outlook for a strengthening domestic economy would seem at odds with a global economy that is losing steam.”
The group’s Leading Economic Index increased 0.4% to 94.3, the highest level since July, after rising by a revised 0.2% in November. Economists polled by Reuters had expected the index to increase 0.7% after a previously reported 0.5% gain.
“The LEI provides some reason for cautious optimism in the first half of 2012,” said Ken Goldstein an economist at the Conference Board. “This somewhat positive outlook for a strengthening domestic economy would seem at odds with a global economy that is losing steam.”
