Leading Indicators Up 0.2% in February

The index of leading U.S. economic indicators posted its fifth consecutive monthly increase in February, suggesting the economy should keep growing well into a ninth year. The Conference Board index, intended to predict economic growth over the next six months, rose 0.2% for the month to 107.1, as expected, after rising an unrevised 0.5%, to 106.9, in January. The index “shows less breadth than usual, with only four of the 10 components rising in February,” said Michael Boldin, director of business cycle research at the New York-based business research group. “Nonetheless, the overall trend continues to point to strong growth.” Fewer jobless claims and rising consumer confidence led the increase. Declining new orders for consumer goods and non-defense capital goods, a drop in building permits and faster vendor deliveries made a negative contribution. The index of coincident indicators, a gauge of current economic activity including industrial output, rose 0.3% in February after rising 0.2% in January.