U.S. economy set to speed up, leading index signals

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U.S. economy set to speed up, leading index signals


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.

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“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.

Read: The U.S. economy is showing some sparkle again, but the dark days are far from over

Rising stock prices
DJIA,
+0.43%
,
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.



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