US leading economic indicators rose 1.1% in December, suggesting that the recovery from recession is gathering steam, the Conference Board said today.
The US business research firm said that the forward-looking index increased 1.1% in December, following a 1% gain in November, and posting a ninth consecutive gain.
'The indicators point to an economy in early recovery', said Ken Goldstein, economist at the Conference Board. He added the survey 'suggests that the pace of improvement could pick up this spring'.
The survey also found the coincident index of current economic conditions rose for the first time in the last six months, as strong industrial production offset weakness in employment in December.
The coincident index rose 0.1% in December, matching the rise of the previous two months.
The lagging index declined 0.2% in December, following a 0.5% decline in November, and a 0.2% fall in October - more signs of a struggling economy in late 2009.
