Suggesting U.S. economic growth continues to moderate, the Conference Board released a report on Thursday showing a continued slowdown in the pace of growth by its index of leading economic indicators in the month of December.
The Conference Board said its leading economic index rose by 0.3 percent in December after climbing by 0.7 percent in November and advancing by 0.9 percent in October. The uptick by the index still matched economist estimates.
“Improvements in the US LEI were very broad-based among the leading indicators, except for rising initial claims for unemployment insurance and a mixed consumer outlook on business and economic conditions,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board.
He added, “While the resurgence of COVID-19 and weak labor markets remain barriers to growth, The Conference Board expects the economy to expand by at least 2.0 percent (annual rate) in Q1 and then gain momentum throughout the year.”
The report said the coincident economic index increased by 0.3 percent in December following a 0.1 percent uptick in November.
The lagging economic index also inched up by 0.1 percent in December, matching the modest increase seen in the previous month.
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