The index of U.S. leading indicators rose for an eighth consecutive month in November, said the U.S. Conference Board. The group's outlook for the next three to six months rose 0.9%, more than forecast, after climbing 0.3% in October.
Six of the 10 indicators in the leading index contributed to the gain, led by the difference between short- and long-term borrowing costs and fewer jobless claims. A longer factory workweek, higher stock prices, more building permits, and a rise in money supply also helped the index.
Weaker consumer expectations, faster supplier deliveries and fewer capital goods orders brought down the index.
The Conference Boardâ€™s index of coincident indicators, a gauge of current economic activity, rose 0.2% in November after no change the prior mont, while the gauge of lagging indicators dropped 0.4% last month.
to Daily News