The U.S. economy is expected to show signs of growth in the coming months after a key indicator of future economic direction turned positive.
The Conference Board Leading Economic Index (LEI) for the United States rose by 0.3 percent in November, following a 0.4 percent decline in the previous month, the company said in a Dec. 19 statement.
Justyna Zabinska-La Monica, senior manager at The Conference Board, said this was the first time since February 2022 that the LEI increased monthly. The November jump was driven by a “rebound in building permits, continued support from equities, improvement in average hours worked in manufacturing, and fewer initial unemployment claims,” she said….