LEI Rises in November, Conference Board Says

The Conference Board said that its index of leading economic indicators rose 0.7% in November.

"Only consumption consistently fueled the recovery throughout 2002," said Conference Board Economist Ken Goldstein. "Meanwhile, the financial market slump seems to be lifting a little this autumn. Recent consumer buying figures have somewhat allayed fears about a weak holiday season and consumer attitudes have also improved.”

The board’s coincident index rose 0.1% in November and the lagging index slipped 0.2%, the group said in a release.

The 0.7% increase in November followed a revised 0.1% increase in October.

Of the 10 indicators that make up the LEI, five increased during November. They were stock prices, real money supply, interest rate spread, average initial unemployment claims and consumer expectations. Four indicators – vendor performance, building permits and new orders for non-defense capital goods and consumer goods – all fell.

The declines in new orders for capital and consumer goods could be distressing to the trucking industry, which relies on factory orders and shipments for much of its business.

(Click here for the full press release.)

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