WASHINGTON – The index of leading indicators in the U.S. rose more than expected in November, thanks to the sharp rise in building permits, which suggests that the U.S. economy could continue to grow, said the employers’ organization Conference Board on Thursday.
This index precursor, which prefigures the general trend of the economy for the coming months, rose 0.5% in November to 118.0, after rising 0.9% in October. This is the seventh month of increase for this index.
The market economists polled by Reuters expected a index up 0.3% in November.
Ken Goldstein, economist at the Conference Board, said that this result bodes well for a possible acceleration of the recovery.
“The risk of an economic recession in the short run away,” said Ataman Ozyildirim in turn, also an economist at the Conference Board.