RTT News reports:
Thursday morning, the Conference Board released its report on leading economic indicators in the month of January, showing that its leading indicators index unexpectedly showed a notable increase compared to the previous month. The report showed that the leading indicators index rose 0.4 percent in January following a revised 0.2 percent increase in the previous month. Economists had expected the index to come in unchanged compared to the 0.3 percent increase originally reported for December.
While the leading indicators index rose for the second consecutive month, the Conference Board noted that the November and December values were revised down as new data for manufacturers' new orders became available.
The bigger than expected increase by the index in January reflected positive contributions from real money supply, the interest rate spread, consumer expectations, manufacturers' new orders for non-defense capital goods, and manufacturers' new orders for consumer goods and materials.
Source: The Conference Board