Leading indicators rise 0.8 percent in February

NEW YORK (AP) — A private research group’s measure of future economic activity rose 0.8 percent in February, as the job market showed improvement and consumers were more optimistic.

It’s the eighth consecutive month that the Conference Board’s index of leading economic indicators has shown growth.

February’s pace was faster than the previous month’s, when the index rose just 0.1 percent. But it was lower that December’s revised reading of 1.0 percent.

Economists surveyed by FactSet expected the index to grow 0.9 percent last month.

The leading indicators began moving sharply higher last fall as the stock market rallied, consumers spent more, the manufacturing sector grew steadily and the jobless rate dropped.