The Conference Board's US leading index suggests that the economic recovery is maintaining its momentum. From Bloomberg:
The index of U.S. leading indicators rose more than anticipated in December, a sign the economy will keep growing through the first half of the year.
The New York-based Conference Board’s gauge of the outlook for the next three to six months climbed 1.1 percent, the most in three months, after increasing 1 percent in November. The gain exceeded the median forecast in a Bloomberg News survey for a 0.7 percent rise...
Other indicators out on Thursday suggest a possible slowing though.
Manufacturing in the Philadelphia area grew in January, corroborating figures last week showing expansion at factories in the New York region. The Fed Bank of Philadelphia’s general economic index of manufacturing in the area fell to 15.2 this month from 22.5 in December...
Labor Department figures today showed jobless claims unexpectedly increased to 482,000 last week from 446,000 a week earlier, reflecting a backlog of applications from the year-end holidays.
Indicators out from Europe also suggest a possible slowing of the economy. Again from Bloomberg:
Expansion in Europe’s service and manufacturing industries unexpectedly slowed in January, adding to signs the pace of the economy’s recovery may weaken.
A composite index based on a survey of purchasing managers in both industries in the 16-nation euro region fell to 53.6 from 54.2 in December, London-based Markit Economics said today in an initial estimate. Economists expected an increase to 54.4, according to the median of 15 estimates in a Bloomberg survey. A reading above 50 indicates expansion...
An index of services dropped to 52.3 in January from 53.6 in the previous month, Markit said. A gauge of manufacturing increased to 52 from 51.6 in December.
There are no worries of slower growth in China. In fact, quite the opposite. From AFP/CNA:
China's red-hot economy expanded by 8.7 percent in 2009 but inflation surged towards the end of the year, according to government data released Thursday that laid bare the risks of overheating.
Gross domestic product in the world's third-largest economy returned to double-digit growth in the fourth quarter of 2009 at 10.7 percent, and surpassed the government's target of eight percent for the year...
China's consumer price index, the main gauge of inflation, rose 1.9 percent year-on-year in December. Authorities are already clamping down on bank lending and hiking borrowing costs to keep a lid on price pressures...
China's urban fixed asset investment, a measure of government spending on infrastructure and a key driver of the economy, rose 30.5 percent in 2009 while overall fixed asset investment rose 30.1 percent, Thursday's data showed.
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