The Conference Board reported on Friday its Leading Economic Index (LEI)
for the U.S. increased 0.8 percent m-o-m in December to 120.8 (2016 = 100),
following a downwardly revised 0.7 percent m-o-m gain (from 1.1 percent m-o-m) in
November.
Economists had forecast a climb of 0.8 percent m-o-m.
Commenting on the latest reading, Ataman Ozyildirim, Senior Director of
Economic Research at The Conference Board, said that the fact the LEI ended
2021 on an increasing trajectory suggested the U.S. economy would continue to grow
well into the spring. He noted, however, that such factors as the Omicron coronavirus
strain, labor shortages, high inflation, and anticipated rate hikes by the Fed, might
moderate economic growth in the first quarter. Nonetheless, the Conference
Board sees the U.S. economy will expand by 3.5 percent in 2022.
The report also revealed the Conference Board Coincident Economic Index
(CEI) for the U.S. went up 0.2 percent m-o-m in December to 107.4, after edging
up 0.1 percent m-o-m in November. In addition, its Lagging Economic Index (LAG)
for the U.S. inched up 0.1 percent m-o-m to 109.4, following a 0.1 percent
m-o-m uptick in November.