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U.S. Leading Indicators Flat in February
WASHINGTON (Reuters) March 17- A closely watched gauge of
future U.S. economic activity was unchanged in February, a private
research firm said on Thursday.
The index of leading economic indicators, which foreshadows economic
activity in the next three to six months, was flat at 115.1 last
month after a revised 0.4 percent rise in January, the Conference
Board (news - web sites) said. Wall Street economists surveyed by
Reuters had expected a 0.1 percent gain in February.
"Sustained consumption and strong investment should start to
induce stronger job growth. What is unusual about the current business
cycle, however, is the delay between the strengthening economy and
the hiring of new workers," Conference Board economist Ken
Goldstein said in a statement.
He added that "the labor market should start to improve, barring
a major disruption in the economy."
The job market has been a constant drag on an improving U.S. economy.
Earlier on Thursday, the Labor Department (news - web sites) said
new U.S. claims for jobless benefits in the March 13 week fell to
336,000 from 342,000 the prior week, the lowest reading since mid-January
2001.
Six of the 10 indicators that make up the Conference Board's composite
leading index rose in February, led by money supply and vendor performance.
The other four fell last month, led by consumer expectations and
jobless claims.
"While the growth rate of the leading index has slowed somewhat
in recent months, it is still signaling relatively strong economic
growth in the near term," the Conference Board said.
The coincident index, which measures current economic activity,
rose 0.3 percent, a sixth straight monthly increase. The lagging
index, a measure of past activity, was unchanged in February.
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