US economic barometer ticks higher in November

WASHINGTON, Dec 20 (AFP) - A US economic barometer ticked higher in November for the first time in nearly half a year but suggested the economy still seems to be losing momentum, the Conference Board said Monday.
The index of leading economic indicators, forecasting activity in the coming months, rose 0.2 points from the previous month to 115.2, the business research group said, a little higher than Wall Street expectations.
"After five straight declines, the leading economic indicators (LEI) turned around in November," said Ken Goldstein, economist at the Conference Board, a private economic research group.
But the increase did not alter a picture of sluggishness.
"In terms of both duration and degree, the indicators suggest an economy losing forward momentum," Goldstein said.
"But even if economic performance early in 2005 proves sluggish, conditions could brighten by spring."
A separate gauge of current economic activity -- the coincident index -- rose 0.1 point to 118.5. A measure of past activity -- the lagging index -- fell 0.1 point to 98.3.

12/20/2004 15:37 GMT - AFP