The Conference Board’s economic index of future business conditions increased 0.5% in December, to 124.6, based on improving sentiment about the U.S. economy, according to the Conference Board.
“The U.S. Leading Economic Index increased in December, suggesting the economy will continue growing at a moderate pace, perhaps even accelerating slightly in the early months of this year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.
“December’s large gain .. suggests the business cycle still showed strong momentum in the final months of 2016.”
The 10 components of the Leading Economic Index are the following:
The Conference Board’s index rose 0.1% in November 2016 and 0.2% in October.
The index was caught in a one-month up, one-month down trend for much of the summer of 2016. December’s 0.5% increase was the largest move since a 0.6% increase last April.