The composite index of Leading Economic Indicators was up 0.5% in December following an unrevised 0.1% increase in November, the Conference Board reported Thursday.
The coincident index gained 0.3% in December after a revised flat reading in November, first reported as a 0.1% increase, while the lagging index rose 0.3% after a revised 0.4% rise in November, first reported as a 0.3% increase.
The LEI stands at 124.6, the coincident index is at 114.3 and the lagging index is at 123.4 The LEI has a baseline of 100, which reflects the level in 2010.
This month's release incorporates annual benchmark revisions.
Economists polled by Thomson Reuters predicted LEI would be up 0.5% in the month.
"The U.S. Leading Economic Index increased in December, suggesting the economy will continue growing at a moderate pace, perhaps even accelerating slightly in the early months of this year," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "December's large gain was mainly driven by improving sentiment about the outlook and suggests the business cycle still showed strong momentum in the final months of 2016."
