U.S. Leading Indicators Pick Up in November, Economic Recovery Showing Positive Signs

The US Conference Board Leading Indicator increased by 0.3% in November, almost reversing the 0.4% decline in October. Over the six-month period May-November 2024, leading indicators fell by 1.6 per cent, slightly less than the 1.9 per cent decline in the previous six months (November 2023-May 2024). US economic indicators rose in November for the first time since February 2022, said Justyna Zabinska-La Monica, senior manager of business cycle indicators at the World Federation of Large Enterprises. The indicator was boosted by an increase in building permits, continued support from the stock market, an improvement in average hours worked in the manufacturing sector, and a decrease in initial jobless claims. Overall, the rise in the indicator is a positive sign for future economic activity in the US. U.S. GDP is now expected to grow by 2.7% in 2024, but growth will slow to 2.0% in 2025.