There are more indications the American economy is poised for a turnaround. This morning the Conference Board reported its Index of Leading Economic Indicators increased 0.6% in January,
the fourth consecutive monthly jump.
The increase, which measures where the economy is headed up to six months down the road, comes on top of a 1.3% jump in December and 0.8% increase in November. During the six-month span through January, the index increased 2.2 percent.
"The strong signal from the indicators is that the recession is ending and that the recovery could be more vigorous than earlier anticipated," said Ken Goldstein, the board's chief economist. "Given this string of strong increases, the cumulative rise in the index over the past six months is very positive and suggests gathering economic momentum.”
The January number marks the first time the index has increased four months in a row since such a streak ended in January 2000, and it beat analysts predictions of a half-percent increase for the month.
The positive numbers follow news earlier this week from the U.S. Labor Department that consumer prices increased 0.2% in January, the first increase in four months and an indication that inflation is in check and demand for consumer goods may be on the rise.
Also this week the U.S. Commerce Department reported positive news when it comes to new home starts. They increased 6.3% in January to their strongest level in almost two years, translating into good news for trucking companies who haul building materials.