The index of U.S. leading indicators rose above expectations in December, posting a 0.3% month-over-month gain, according to the Conference Board. The consensus had forecast a 0.2% month-over-month decline.
November's level was unrevised at -0.4%.
Over the past six months, the leading index has fallen 5.0%, with five out of the 10 components showing contractions.
The leading index saw positive contributions from consumer goods orders, capital goods, M2 money supply, and the interest rate spread, while consumer expectations were flat.
The average work week fell 0.25% from the prior month.
The coincident index, which measures what is currently happening in the economy, fell 0.5% in December after posting a 0.3% loss in the prior month. Over the past six months, the coincident index has fallen 4.3%.
The lagging index, which looks backwards at where the economy has been, fell 0.4% in December following the prior month's flat performance.
By Steve Stecyk and edited by Nancy Girgis
©CEP News Ltd. 2009