The U.S. leading economic index edged up in January, The Conference Board reported today. The index rose 0.3 percent in January to a reading of 99.5 (2004 = 100), following no change in December and a 0.9 percent increase in November.

“The increase in the leading economic index reflects an economy that is expanding moderately, although the pace is somewhat held back by persistent and severe inclement weather in most parts of the country,” said Ken Goldstein, economist at The Conference Board. “If the economy is going to move on to a faster track in 2014 compared to last year, consumer demand and especially investment will need to pick up significantly from their current trends.”