Washington - A key gauge of leading economic indicators rose in February, indicating continuing strengthening in the US economy as the index hit an 11-month high, a private research group said Thursday. The New York-based Conference Board said its leading economic index rose 0.7 per cent in February to 95.5. The January figure was revised downward, to show a 0.2-per-cent rise, after the board had first reported a 0.4-per-cent increase.
The index reflected 'a more positive outlook for general economic activity in the first half of 2012,' economist Ataman Ozyildirim said in a statement.
The economy improved over the winter and could continue to advance into the summer and beyond, the Conference Board said.
Current employment, income and sales data improved, but 'subdued' consumer expectations and weak industrial production continued to weigh on the index.
The index reflects the board's outlook for the next three to six months.
