NEW YORK - The composite index of Leading Economic Indicators grew 0.4% in March, the Conference Board reported Thursday.
The coincident index grew 0.2% in March, after a revised 0.1% gain in February, originally reported as a 0.2% increase, while the lagging index rose 0.4% after a revised 0.3% increase in February, originally reported as a 0.2% gain.
LEI rose a revised 1.0% in February, originally reported as a 0.8% jump.
The LEI stands at 114.1, the coincident index is at 102.9 and the lagging index is at 108.3. The LEI has a baseline of 100, which reflects the level in 2004.
Economists polled by Thomson Reuters predicted LEI would be up 0.3% in the month.
“The U.S. LEI continues to point to sustained economic growth through year end,” said the Conference Board economist Ken Goldstein. “Global disruptions, including unrest in the Middle East, rising oil prices and the Japan earthquake, may have some repercussions. However, it remains to be seen what the impact of these shocks will be on the United States and the broader global economy.”
“The U.S. LEI continued to increase in March, pointing to strengthening business conditions in the near term,” according to the Conference Board Economist Ataman Ozyildirim. “The March increase was led by the interest rate spread and housing permits components, while consumer expectations dropped. The U.S. CEI, a monthly measure of current economic conditions, also continued to rise, led by gains in industrial production and employment.”
