The Conference Board announced on Friday its Leading Economic Index (LEI) for the U.S. rose 0.6 percent m-o-m in November to 109.1 (2016 = 100), following a revised 0.8 percent m-o-m jump in October (originally a 0.7 percent m-o-m gain).

Economists had forecast an increase of 0.5 percent m-o-m.

“The US LEI continued rising in November, but its pace of improvement has been decelerating in recent months, suggesting a significant moderation in growth as the US economy heads into 2021,” noted Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “Initial claims for unemployment insurance, new orders for manufacturing, residential construction permits, and stock prices made the largest positive contributions to the LEI. However, falling average working hours in manufacturing and consumers’ worsening outlook underscore the downside risks to growth from a second wave of COVID-19 and high unemployment.”

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.2 percent m-o-m in November to 103.2, following a 0.6 percent m-o-m gain in October. Meanwhile, its Lagging Economic Index (LAG) for the U.S. fell 0.4 percent m-o-m in November to 106.9, following a 0.3 percent advance in October.