U.S. Leading Economic Indicators Up Eight Straight Months

Dec. 17, 2009
Conference Board said that the economy's strengths have remained widespread in recent months.

The forward-looking index of leading economic indicators rose in November, according to a Conference Board survey on Dec. 17, suggesting recovery from recession is gaining momentum.

The index rose 0.9%, following a 0.3% rise in October and a revised 1.2% jump in September, the business research firm said.

The November increase was stronger than the average analyst forecast of 0.7% rise in the index, which is based on data such as average weekly hours in manufacturing, initial claims for unemployment insurance, stock prices and consumer expectations.

The index, which had fallen steadily since mid-2007, has risen for eight consecutive months and is now slightly higher than its latest peak in July 2007.

"All in all, the behavior of the composite indexes suggests that the recession is bottoming out and that economic conditions will continue to improve in the near term," the Conference Board said, noting strengths had remained "widespread" in recent months.

The November increase was led by "large positive contributions" from the interest rate spread, initial jobless claims, average weekly hours and housing permits, it said.

Those gains more than offset negative readings, such as from the index of supplier deliveries and the index of consumer expectations.

The index of coincident indicators, a gauge of current economic activity, rose 0.2% in November, after the index held unchanged in October following a 0.1% drop in September.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

State of Sales Report

Sept. 12, 2023
Discover the latest insights driving productivity and efficiency for more than 7,700 sales leaders and professionals.

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!