Measure Of Future U.S. Growth Rises In January
WASHINGTON (AP) -- A measure of the U.S. economy's future direction increased in January from December, suggesting slow growth will continue in the coming months.
The Conference Board says its index of leading indicators rose 0.2 percent in January to 94.1, the second straight increase after a gain of 0.5 percent in December. In November, the index was unchanged. The gauge is designed to anticipate economic conditions three to six months out.
Rising stock prices, falling applications for unemployment benefits and a gain in housing permits drove the index higher. A fall in consumer expectations about the economy and declining new orders for factory goods limited the gain.