WASHINGTON (dpa-AFX) - The Conference Board's Leading Economic Index for the U.S. increased 0.3 percent in January to 99.5, suggesting the nation's economy did not lose much momentum despite severe winter weather across much of the nation.
The January increase in the leading index follows no change in December, and a 0.9 percent increase in November.
There was a slight downward revision to the numbers from December and November, but the leading index continues to suggest the world's largest economy will keep growing, albeit moderately, in 2014.
'The U.S. Leading Economic Index continues to fluctuate on a monthly basis, but the six-month average growth rate has been relatively stable in recent months, which suggests that the economy will remain resilient in the first half of 2014 and underlying economic conditions should continue to improve,' said Ataman Ozyildirim, Economist at The Conference Board.
'The increase in the Leading Economic Index reflects an economy that is expanding moderately, although the pace is somewhat held back by persistent and severe inclement weather in most parts of the country,' said Economist Ken Goldstein.
Goldstein says that consumer demand and especially investment will need to pick up significantly from their current trends if the economy is going to move on to a faster track in 2014 compared to last year's robust growth.
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