The Conference Board Leading Economic Index for the US points to continued growth in the US economy into spring.

It rose 0.8% in December to a level of 120.8 (2016=100). That follows increases of 0.7% in November and 0.7% in October.

“The US [Leading Economic Index] ended 2021 on a rising trajectory, suggesting the economy will continue to expand well into the spring,” said Ataman Ozyildirim, senior director of economic research at The Conference Board. “For the first quarter, headwinds from the omicron variant, labor shortages and inflationary pressures — as well as the Federal Reserve’s expected interest rate hikes — may moderate economic growth.”

The Conference Board forecast GDP growth for the first quarter to slow to a relatively healthy 2.2% (annualized), Ozyildirim said. Growth is forecast to be higher for full-year 2022 at 3.5%, well above the pre-pandemic trend growth.

The organization also noted that this month’s Leading Economic Index includes annual benchmark revisions.