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Leading indicators gain, signaling pickup

A gauge of future U.S. economic activity posted a solid rise in October and, according to Conference Board officials, signaled a potential pickup in the pace of activity ahead.
/ Source: Reuters

A gauge of future U.S. economic activity posted a solid rise in October and, according to Conference Board officials, signaled a potential pickup in the pace of activity ahead.

The business research group said Thursday its Leading Economic Index rose 0.5 percent in October, matching September's revised gain and following a 0.1 percent August advance.

"The economy is slow, but latest data on the U.S. LEI suggest that change may be around the corner," said Ken Goldstein, an economist at the Conference Board.

"Expect modest holiday sales, driven by steep discounting. But following a post-holiday lull, the indicators are suggesting a mild pickup this spring." he added.