The U.S. economy is still growing and likely to speed up in the next six months, a new survey suggests.
The leading economic index rose 0.5% in January, following gains of 0.4% in December and 0.9% in November, the Conference Board said Monday.
“While the pace of increase in the U.S. LEI has slowed since mid-2020, January’s gains were broad-based and suggest economic growth should improve gradually over the first half of 2021,” said Ataman Ozyildirim, senior director of economic research at the board.
“As the vaccination campaign against COVID-19 accelerates, labor markets and overall growth are likely to continue improving through the rest of this year as well,” he added.
Rising stock prices
an ebullient housing market and stronger manufacturing production powered the increase in the leading index last month.
Companies are preparing for a more robust economy later in the year as more Americans get vaccinated and the pandemic eventually fades.