The Conference Board’s US Leading Economic Index rose 1.2% in October to a reading of 130.4 (2010 = 100), following slight increases of 0.1% in September and 0.4% in August.

“The US LEI increased sharply in October, as the impact of the hurricanes dissipated,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The growth of the LEI, coupled with widespread strengths among its components, suggests that solid growth in the US economy will continue through the holiday season and into the new year.”