The U.S. Conference Board announced today that the U.S. leading index increased by 0.6%, the coincident index held steady, and the lagging index decreased by 0.2% in January.

The leading index posted a robust 2.2% increase from July 2001 to January 2002. This is the fourth consecutive month that the six-month growth rate of the leading index has improved. The six-month diffusion index, which measures the number of components that are rising, has increased above 50% for the first time in 21 months.

Six of the 10 indicators that make up the leading index increased in January. The leading index now stands at 112.2. Based on revised data, this index increased 1.3% in December and increased 0.8% in November.