NEW YORK, Jan. 20 (UPI) -- The U.S. index of leading economic indicators rose sharply in December for the second consecutive month, the Conference Board said Thursday.
The Leading Economic Index rose 1 percent after jumping 1.1 percent in November, the Conference Board said. By comparison, the index rose 0.4 percent in October, which was considered a solid improvement.
The headline index, which uses 2004 as a base year with an assigned value of 100, rose in December to 112.4.
Although the index has risen for four consecutive months, Conference Board economist Ataman Ozyildirim said the numbers "still suggest the (economic) expansion path may be uneven."
"December's gain was led by housing permits, the interest rate spread, initial claims for unemployment insurance and consumer expectations," he said.
In a statement, Conference Board economist Ken Goldstein said, "The four-month rise suggests the economy now has some wind in its sails; however, it still faces some strong headwinds in the medium-term. Overall, economic activity is likely to continue to gain momentum in 2011."
