The most popular index of US leading indicators increased in January, suggesting a continuation of robust economic activity, according to a survey released today.
The Conference Board, a business research group, said its leading indicators rose by a stronger than expected 1.1% in January, following a smaller gain of 0.3% in December. Wall Street had expected an increase of just 0.5%.
Six of the 10 indicators that make up the leading index gained in January, including building permits, stock prices, average weekly initial claims for unemployment insurance and interest rate spread. The key benchmark has now risen in five of the past six months.
'The strengths and weaknesses among the leading indicators were balanced through mid-2005, and the strength has become somewhat more widespread since August,' the Conference Board added.
