The composite index of Leading Economic Indicators was up 0.9% in October following a revised 0.7% rise in September, first reported as a 0.8% climb, the Conference Board reported Thursday.
The coincident index gained 0.1% in October after a revised 0.3% rise in September, first reported as a 0.4% increase while the lagging index fell 0.1% after an unrevised 0.1% rise in September.
The LEI stands at 105.2, the coincident index is at 110.2 and the lagging index is at 124.9 The LEI has a baseline of 100, which reflects the level in 2004.
Economists polled by Thomson Reuters predicted LEI would grow 0.6% in the month.
"The upward trend in the LEI points to continued economic growth through the holiday season and into early 2015," said the Conference Board economist Ken Goldstein. "This is consistent with our outlook for relatively good, but not great, consumer demand over the near term. Going forward, there are continued concerns about slow business investment and lackluster income growth."
"The LEI rose sharply in October, with all components gaining over the previous six months," said Ataman Ozyildirim, an economist at The Conference Board. "Despite a negative contribution from stock prices in October, and minimal contributions from new orders for consumer goods and average workweek in manufacturing, the LEI suggests the U.S. expansion continues to be strong."
