The US Conference Board Leading Economic Index (LEI) for the U.S. increased 1.0 percent in September, following a 0.4 percent gain in August, and a 1.0 percent rise in July.

"With the sixth consecutive increase, the LEI's six-month growth rate has improved to its highest pace since 1983," Ataman Ozyildirim, an economist at the private sector Conference Board said.  "Except for average workweek and building permits, all the leading indicators contributed positively to the index this month. At the same time, the contraction in the coincident economic index has halted in recent months, but the continued downtrend in employment is keeping this index of current economic conditions from rising faster."

Economist Ken Goldstein also said: "The LEI has risen for six consecutive months and the coincident economic index has increased in two of the last three months. These numbers strongly suggest that a recovery is developing. However, the intensity of that recovery will depend on how much, and how soon, demand picks up."

The Coincident Economic Index (CEI was unchanged in September, following a 0.1 percent increase in both August and July.

The  Lagging Economic Index (LAG) declined 0.3 percent in September, following a 0.2 percent decline in August, and a 0.6 percent decline in July.

Eight of the ten indicators that make up the LEI increased in September. The positive contributors - -  beginning with the largest positive contributor - -  were interest rate spread, index of consumer expectations, average weekly initial claims for unemployment insurance (inverted), stock prices, real money supply, index of supplier deliveries (vendor performance), manufacturers’ new orders for nondefense capital goods and manufacturers’ new orders for consumer goods and materials.

The negative contributors - -  beginning with the largest negative contributor - - were average weekly manufacturing hours and building permits.