(RTTNews) – The Conference Board on Thursday released a report indicating that its index of key U. S. economic signals rose more than expected in October.
The report says the complex economic index rose 0. 9 in October after emerging a revised 0. 1 in September.
Economists had expected the index to rise 0. 8% from the 0. 2% rise first reported over the past month.
“The U. S. LEI. USA It increased dramatically in October, suggesting that the existing economic expansion will continue through 2022 and possibly even gain momentum in the final months of this year,” said Ataman Ozyildirim, senior director of economic studies at the Conference Board.
The Conference Board said the coincident economic index rose 0. 5 in October after remaining unchanged in September.
The report showed the lagging economic index also rose 0. 4 in October after jumping 1. 0 last month.