Economic Indicators Up Most Since February

Washington, DC, Nov. 18, 2011 -- The Conference Board's index of leading economic indicators grew 0.9% in October--the largest growth since February--led by gains in building permits.

The index "is pointing to continued growth this winter, possibly even gaining a little momentum by spring," said Ken Goldstein, a Conference Board economist, in a press release.

Economists had expected growth of 0.7%.

The Conference Board revised September's result down to 0.1% from a prior estimate of 0.2%.

The index is a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs.

Among the 10 indicators that make up the LEI, nine made positive contributions in October, led by building permits, the interest-rate spread, and average weekly manufacturing hours.