NEW YORK, March 22 (UPI) -- The U.S. index of leading economic indicators rose for the fifth consecutive month in February, the Conference Board said Thursday.
The Leading Economic Index was up 0.7 percent to 95.5, following an increase of 0.2 percent in January and 0.5 percent in December.
Economists had predicted a 0.6 gain based on steady growth in employment. The government has said the economy gained 227,000 jobs in February.
The Leading Economic Index, which takes into account 10 economic components, is essentially a comparison to 2004, the year the Conference Board assigned a level of 100.
In February, the index, "confirm(s) a more positive outlook for general economic activity in the first half of 2012," said Conference Board economist Ataman Ozyildirim.
Of the 10 components, consumer expectations and the purchasing managers' index for new orders held the index back in February, he said.
