The Conference Board Leading Economic Index (LEI) continued rising in February, adding a 0.1% gain to 0.3% gained in January and a 2.1% rise in December.
The LEI has risen steadily since a low in March 2009.
"The LEI for the U.S. has risen rapidly for almost a year now and it has reached its highest level," said Ataman Ozyildirim, economist at The Conference Board. "But, the sharp pick up in the LEI appears to be stabilizing." The index points to "moderately improving" economic conditions in the near term, he explained.
Added Conference Board Economist Ken Goldstein, "The indicators point to a slow recovery this summer. Going forward, the big question remains the strength of demand. Without increased consumer demand, job growth will likely be minimal over the next few months."