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US leading economic indicator rises in November

[WASHINGTON] A gauge of future US economic activity increased solidly in November, pointing to underlying strength in the economy.

The Conference Board said on Thursday its Leading Economic Index rose 0.6 per cent last month after a downwardly revised 0.6 per cent increase in October.

Economists polled by Reuters had expected the index to advance 0.5 per cent after October's previously reported 0.9 per cent jump.

"The biggest challenge has been, and remains, more income growth. However, with labor market conditions tightening, we are seeing the first signs of wage growth starting to pick up," said Ken Goldstein, an economist at the Conference Board.