The Conference Board’s US Leading Economic Index edged up 0.6% in February to a reading of 108.7 (2016 = 100), following increases of 0.8% in January and 0.7% in December.

The US Leading Economic Index rose again, despite a sharp downturn in stock markets and weakness in housing construction in February, according to Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.

“The LEI points to robust economic growth throughout 2018. Its six-month growth rate has not been this high since the first quarter of 2011,” Ozyildirim said. “While the Federal Reserve is on track to continue raising its benchmark rate for the rest of the year, the recent weakness in residential construction and stock prices — important leading indicators — should be monitored closely.”