Measure of future growth up 0.5 pct. in December
Published: January 24, 2013
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In this Thursday, Dec. 6, 2012 photo a new home is constructed in Pepper Pike, Ohio. A measure of the U.S. economy designed to signal future activity increased in December from November, suggesting growth may strengthen in 2013. "Housing, which has long been a drag, has turned into a positive for growth, and will help improve consumer balance sheets and strengthen consumption," Conference Board economist Kenneth Goldstein said. (AP Photo/Tony Dejak)
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The index is derived from data that for the most part have already been reported individually.
On Thursday, the Labor Department said weekly applications for unemployment claims continued to trend lower. The fell last week to a seasonally adjusted 330,000, a five-year low.
Home builders started work in 2012 on the most new homes in four years, the Commerce Department said last week.
And stock prices are rising even faster in January than last month. The Standard & Poor's 500 index on Thursday briefly traded above 1,500 on Thursday, the first time that has happened since December 2007.
The Dow Jones industrial average increased 45 points to 13,824 in midday trading. The Dow closed Wednesday at a five-year high.
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