Leading indicators rise 0.5 percent in October
{{#rendered}} {{/rendered}}
A private research group says its gauge of future economic activity accelerated in October after a summer lull, suggesting the economy may slowly start picking up early next year.
The Conference Board says its index of leading economic indicators increased 0.5 percent last month. That matches a revised September reading of 0.5 percent. The September number had initially been reported as up 0.3 percent.
The latest increases are the fastest since May.
{{#rendered}} {{/rendered}}
The index had grown steeply since April 2009 on the strength of the stock market, record-low interest rates and a rebound in manufacturing. But the rate of expansion had tapered off this summer as U.S. economic growth slowed.
Conference Board says financial conditions — rising stock prices, more money in the financial system — gave the biggest boost to its index in October.