The composite of the Leading Economic Index was up 0.2% in February following a revised unchanged level in January, the Conference Board said Thursday.
The coincident index rose 0.2% in February after a 0.1% rise in January, while the lagging index was flat in February, after a revised 0.6% increase in January.
The LEI stands at 111.5, the coincident index is at 105.9 and the lagging index is at 107.0. The LEI has a baseline of 100, which reflects the level in 2016.
Economists polled by IFR Markets predicted LEI would be up 0.1% in the month.
“The US LEI increased in February for the first time in five months,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “February’s improvement was driven by accommodative financial conditions and a rebound in stock prices, which more than offset weaknesses in the labor market components. Despite the latest results, the US LEI’s growth rate has slowed over the past six months, suggesting that while the economy will continue to expand in the near-term, its pace of growth could decelerate by year end.”
