Leading Economic Indicators Up 0.6% in Jan.

The composite index of Leading Economic Indicators was up 0.6% in January following an unrevised 0.5% increase in December, the Conference Board reported Friday.

The coincident index gained 0.1% in January after an unrevised 0.3% rise in December, while the lagging index rose 0.3% after a revised 0.5% rise in December, first reported as a 0.3% increase.

The LEI stands at 125.5, the coincident index is at 114.4 and the lagging index is at 123.7 The LEI has a baseline of 100, which reflects the level in 2010.

Economists polled by Thomson Reuters predicted LEI would be up 0.5% in the month.

"The U.S. Leading Economic Index increased sharply again in January, pointing to a positive economic outlook in the first half of this year," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "The January gain was broad based among the leading indicators. If this trend continues, the U.S. economy may even accelerate in the near term."

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