The composite index of Leading Economic Indicators was up 0.1% in February following a 0.2% drop in January, the Conference Board reported Thursday.
The coincident index gained 0.1% in February after an unrevised 0.3% rise in January, while the lagging index grew 0.4% after an unrevised 0.1% rise in January.
The LEI stands at 123.2, the coincident index is at 113.3 and the lagging index is at 120.4 The LEI has a baseline of 100, which reflects the level in 2010.
“The U.S. LEI increased slightly in February, after back-to-back monthly declines, but housing permits, stock prices, consumer expectations, and new orders remain sources of weakness,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “Although the LEI’s six-month growth rate has moderated considerably in recent months, the outlook remains positive with little chance of a downturn in the near-term.”
Economists polled by Thomson Reuters predicted LEI would gain 0.2% in the month.
