Leading Indicators Edge Up in December

An index designed to predict the direction of the U.S. economy rose for a third month, indicating growth will pick up by midyear.

The Conference Board’s index of leading economic indicators rose 0.1% in December, after gains of 0.5% in November and 0.2% in October. The string of increases was the longest since the four months that ended in March. Economists had expected no change in the index.

A separate report by the Labor Department found first-time claims for state unemployment benefits rose by 18,000 last week to 381,000, while the four-week average fell for a third straight week to 386,500 from 388,500.