The Conference Board announced on Thursday its Leading Economic Index (LEI) for the U.S. rose 0.4 percent in March to 111.9 (2016 = 100), following a revised 0.1 percent increase in February (originally a 0.2 percent m-o-m gain).

Economists had forecast an advance of 0.4 percent.

Ataman Ozyildirim, Director of Economic Research at The Conference Board, noted “The US LEI picked up in March with labor markets, consumers’ outlook, and financial conditions making the largest contributions. Despite the relatively large gain in March, the trend in the US LEI continues to moderate, suggesting that growth in the US economy is likely to decelerate toward its long term potential of about 2 percent by year end.”

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. went up 0.1 percent to 105.8 in March after a 0.1 percent uptick in February. Meanwhile, its Lagging Economic Index (LAG) for the U.S. edged up 0.1 percent to 107.0, following no change in February.