The Conference Board Leading Economic Index for the U.S. increased 0.5 percent in December to 121.1 (2010 = 100), following a 0.4 increase in November, and a 0.6 percent increase in October.

“December’s gain in the LEI was driven by a majority of its components, suggesting the short-term outlook is getting brighter and the economy continues to build momentum,” said Ataman Ozyildirim, economist at The Conference Board. “Still, a lack of growth in residential construction and average weekly hours in manufacturing remains a concern. Current economic conditions measured by the coincident indicators show employment and income gains are helping to keep the U.S. economy on a solid expansionary path despite some weakness in industrial production.”

The Coincident Economic Index increased 0.2 percent in December to 111.4 (2010 = 100), following a 0.5 percent increase in November and a 0.3 percent increase in October, and the Lagging Economic Index increased 0.3 percent in December to 115 (2010 = 100), following a 0.3 percent increase in November, and no change in October.