Index of Leading Economic Indicators Rises for Fifth Straight Month
An index that combines leading economic indicators rose for the fifth straight month, albeit modestly, giving optimists hope that the recession has bottomed.
According to the Conference Board, a nonprofit group that collects and distributes data about the marketplace and economy, its forecast index for the next three to six months rose 0.6 percent in August from July, slightly below the forecast 0.7 percent.
The index rose 0.9 percent in July, so there was a bit of a pullback in August. Still, the five straight months of increases was the longest winning streak since 2004.
The index was boosted primarily by the stock market rally but was dragged backward by high unemployment.
-- Frank Ahrens
Sign up to get The Ticker on Twitter
The comments to this entry are closed.