NEW YORK, Dec. 19 (UPI) -- The U.S. index of leading economic indicators jumped 0.8 percent in November, following a 0.1 percent rise in October, the Conference Board said Thursday.
The Leading Economic Index rose for the seventh month out of the past eight. The index was flat in July with the last downturn occurring in March.
The index, which rose to 98.3 in November, is a comparison to economic conditions in 2004, which have been assigned a value of 100.
The LEI continues on a broad-based upward trend, suggesting gradually strengthening economic conditions through early 2014," said Conference Board economist Ataman Ozyildirim.
"Improving labor markets and new orders in manufacturing, combined with strong financial indicators, drove November's gain. However, consumers' outlook for the economy and the drop in housing permits continue to pose risks in 2014," Ozyildirim said.