By Ruth Mantell
WASHINGTON (MarketWatch) -- A "mild pickup" could be in store the economy following a slow winter, the Conference Board said Friday as it reported that its leading economic index rose 1.1% in November, the largest gain since March. "Continuing strength in financial indicators is now joined by gains in manufacturing and consumer expectations, but housing remains weak," said Ataman Ozyildirim, economist at the Conference Board, in a statement. "Possible clouds" on the medium-term horizon are ongoing weakness in housing and jobs, the Conference Board added. Nine of the 10 indicators included in the index rose in November, with the largest positive contribution from the index of supplier deliveries. Building permits were the only negative contributor. November's result matched Wall Street's expectations. October's LEI was revised down to 0.4%, from a prior estimate of 0.5%. The LEI is a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs.
