Leading indicators in U.S. increase for fourth straight month

WASHINGTON – The index of U.S. leading indicators increased in December, extending its rise to four straight months, as the world’s largest economy expanded.

The Conference Board’s index, a gauge of the outlook for the next three to six months, increased 0.5 percent in December, after a revised 0.4 percent gain in November, the New York-based group said today. The median forecast of 49 economists surveyed by Bloomberg called for a 0.4 percent advance.

An improving job market and plunging gas prices continue to support consumer spending that makes up almost 70 percent of the economy. A strong domestic market is buffering the U.S. against global weakness as Federal Reserve policy makers prepare to meet next week to discuss if and when to raise interest rates.

“The short-term outlook is getting brighter and the economy continues to build momentum,” Ataman Ozyildirim, a Conference Board economist said in the report.

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Estimates in the Bloomberg survey ranged from gains of 0.2 percent to 0.7 percent. The November reading was initially reported as a 0.6 percent increase.

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