Six of seven components that make up the headline index improved in October with the largest contributions to the increase coming from the yield spread and from new unemployment claims.
Gains were also posted by higher stock prices, increased numbers of building permits, new industrial orders and production expectations.
The index, which assigns 2004 a base value of 100 for comparisons, rose 0.8 percent to 117 in October the research firm said.
The firm said the country's Coincident Economic Index, which measures current business conditions, was unchanged in October. That index has dropped 0.2 percent from April to October with weaknesses in the Coincident Index "more widespread than strengths during the last six months," the Conference Board said.
The gross domestic product, considered the broadest measure of a countries economic output, dropped at an annual rate of 0.6 percent in the third quarter after rising 2.2 percent in the second.