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In a sign that the economy could climb out of recession in the first half of 2002, a closely watched forecasting gauge rose for the second consecutive month.
The index, an important forecasting gauge, had fallen for four consecutive months, the board, a New York-based private research group, said.
A key forecasting gauge rose to a new high in December, signaling that the economy's record expansion should continue well into the year.
A separate report from a private research group showed that its forecasting gauge rose in August for the fourth consecutive month, suggesting economic growth will strengthen in the second half of the year.
A crucial forecasting gauge for the economy had its biggest increase in almost a year and a half in May, but economic growth will continue to be slow for the next few months, a private research firm said today.
Investors were cheered by news that a crucial forecasting gauge -- the index of leading indicators from the Conference Board, a private research group -- rose 0.4percentt in August to 113.3.
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Local forecast offices of the National Weather Service, radio and television stations, and emergency planners often use the forecasts to gauge the potential severe weather threats to their areas.
Economists forecast the gauge would rise to 58.5, according to the median of 56 estimates.
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