A private gauge of the US economy's direction in
the next three to six months rose in January, according to data
issued Thursday.
The Conference Board, a New York-based think tank, said that its
index of leading economic indicators rose 0.2 per cent to 94.1, based
on a 2004 setting at 100. The index had gained 0.5 per cent in
December after registering unchanged in November.
Six of the index's 10 indicators were higher. Manufacturing orders
and consumer expectations weighed down the index, while more housing
permits, rising stock prices and the credit market suggested a
strengthening economy.
"The indicators point to an underlying economy that remains
relatively sound but sluggish," Conference Board economist Ken
Goldstein said. "The biggest positive factor is housing. The housing
market is now at twice the level reached during its recessionary
lows."
