Industry News

Economic growth should persist

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The Conference Board announced today that the U.S. leading index increased 0.5 percent, the coincident index increased 0.3 percent and the lagging index was unchanged in January. The continued growth in the leading index of about a 5.5 percent annual rate, excluding the recent weakness in the money supply, is signaling that strong economic growth should persist in the near term, the business organization said. The 0.5 percent gain in the leading index was the largest increase since October. The leading index has now increased at a 5 percent annual rate from its most recent low in March, and this growth has continued to be widespread. The one exception has been the real money supply, which continued downward in January. The coincident index has now grown at a 2 percent annual rate from its most recent low in April. Every component--production, sales, income, and employment--has contributed to the growth of the coincident index. Real gross domestic product increased at a 6.1 percent...