New York, Jan 22--Leading indicators rose in December.
The Conference Board reported that its composite index of leading indicators climbed 0.2% in December to 114.3, after a revised 0.2% gain a month earlier. The index was equal to 100 in 1996.
The private research group attributed much of the positive December reading to financial and labor market developments.
"All indicators point to continued economic growth,"
Conference Board economist Ken Goldstein said in a press release. "More job gains than in November and December are in store for the early months of 2004," along with continued robust consumer spending and an uptick in business investment, he said.
Seven out of 10 indicators in the index rose in December. The biggest positive contributors to the index were vendor performance, stock prices, building permits and falling claims for unemployment insurance. The biggest drag was a drop in money supply.
