U.S. Leading Indicators Gain a 10th Month in Sign Economy to Keep Growing

[Purveyor]

Source: Bloomberg



By Courtney Schlisserman

Feb. 18 (Bloomberg) -- The index of U.S. leading indicators rose in January for a 10th straight month, pointing to an economy that will keep expanding through the first half of this year.

The New York-based Conference Board’s measure of the outlook for three to six months increased 0.3 percent, less than anticipated, after a revised 1.2 percent rise in December that was higher than previously estimated. The series of gains in the index is the longest since 2004.

Companies are stepping up production and asking employees to work more hours to meet greater demand that may help spur hiring in coming months. Faster economic growth will depend on employment gains that have yet to occur.

“You’re getting indications that the recovery is being sustained and a sustained recovery eventually leads to a labor market recovery,” said Jonathan Basile, an economist at Credit Suisse in New York. “The more we get news that these indicators are growing and continue to grow, that’s something that’s going to eventually lead to gains in jobs.”

Stocks maintained gains after a separate report showed manufacturing in the Philadelphia area expanded in February for a sixth month. The Federal Reserve Bank of Philadelphia’s general economic index rose to 17.6 from a January reading of 15.2. Readings greater than zero signal growth.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aZOvpsGZ2iy4&pos=2

[tabasco]

1. I'm sure it's all part of evil Obama's psyops campaign.

Someone is sure to show up and tell us why this is bad news.

[Don Caballero]

3. Ha ha exactly. We come to DU to brag about this kind of stuff.

Someone will come in here and spew RW talking points and try to dissuade the facts.

[tabasco]

4. The post was unrec'd before I got here.

That oughta tell you something.

[karynnj]

5. I think some are very well intentioned and their main purpose is to

point out that the economy is still bad and is vulnerable. But, any recovery starts out a the bottom.

It is interesting that there seem to be so many numbers that end up revised upwards.

[ixion]

2. I don't see it

n/t

[Kolesar]

6. My employer's sales rose dramatically last fall--January was good, too

yay