Lead Economic Index Up 0.6 % in August

August marks the fifth straight month showing an increase in the index of leading economic indicators, which in turn is the longest gaining streak since 2004. Several analysts have hinted to this figure as a potential indicator that economic recovery is underway, despite the inherent uncertainty of such an assessment.

The index, which was determined by the Conference Board, determined that the gauge for the economic outlook over the next three to six months rose 0.6 percent in August following a 0.9 percent decrease in the same statistic in July. The result was in line with predictions, according to the New York-based group, and it reflects gains in stock prices, consumer confidence, and homebuilding.

Federal Reserve Chairman Ben Bernanke has echoed the sentiment that the recession is most likely over, but he has also cautioned that high unemployment and other unfavorable financial circumstances will temper economic recovery for a long while. Some analysts have gone so far as to say that the economy is sharply recovering, leaving the lingering question regarding when exactly the economy will be healthy again.

Fed Chairman Ben Bernanke (Image: Flickr)