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The U.S. leading economic index rose sharply in December, The Conference Board reported today. “The latest data suggest that a pickup in domestic growth is now more likely, compared to a few months ago,” said Ken Goldstein, economist at The Conference Board.
“Housing, which has long been a drag, has turned into a positive for growth, and will help improve consumer balance sheets and strengthen consumption.” Goldstein said. “However, for growth to gain more traction we also need to see better performance on new orders and an acceleration in capital spending.”
The index rose 0.5 percent in December to a level of 93.9 (2004=100). That follows no change in November and a 0.3 percent increase in October.
Data on the U.S. leading economic index released today includes annual benchmark revisions.