Suggesting solid economic growth will continue into the first half of 2018, the Conference Board released a report on Thursday showing a slightly bigger than increase by its index of leading U.S. economic indicators in the month of November.
The Conference Board said its leading economic index climbed by 0.4 percent in November after jumping by 1.2 percent in October. Economists had expected the index to rise by 0.3 percent.
"In recent months, unemployment insurance claims have returned to pre-hurricane levels," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board.
He added, "In addition, improving financial indicators, new orders in manufacturing and historically high consumer sentiment have propelled the U.S. LEI even higher."
The report said the coincident economic index rose by 0.3 percent in November, matching the increase seen in October.
The lagging economic index also inched up by 0.1 percent in November following a 0.3 percent increase in the previous month.
by RTT Staff Writer
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