A measure of where the U.S. economy is headed in the next three to six months rose for the third consecutive month in November, according to a report issued Thursday by the private research group The Conference Board.

Its Leading Economic Index increased a solid 0.6% to 105.5 following a 0.6% gain in October and a 0.8% improvement in September. Over the past six months the index has gained 3.6% compared to 2.4% improvement during the previous six months.

“The increase in the LEI signals continued moderate growth through the winter season,” said Ken Goldstein, economist at The Conference Board. “The biggest challenge has been, and remains, more income growth. However, with labor market conditions tightening, we are seeing the first signs of wage growth starting to pick up.”

The Conference Board’s Coincident Economic Index, a measure of current economic activity, increased 0.4% in November to 110.7 following a 0.2% increase in October, and a 0.3% increase in September. All four of its indicators increased in November. Over the past six months it has increased 1.5% compared to a 1.1% gain over the previous six months.

“Widespread and persistent gains in the LEI point to strong underlying conditions in the U.S. economic expansion,” said Ataman Ozyildirim, economist at The Conference Board. “The current situation, measured by the coincident economic index, has been improving steadily, with employment and industrial production making the largest contributions in November.”