22 March 2004, 12:58  UK leading indicator near 2-year high in Feb

A leading indicator of the British economy rose for a 10th month in February to reach its highest level since July 2002, suggesting strong growth in the months ahead, NTC Research said on Monday. The NTC Leading Indicator, which is designed to predict economic conditions in the following nine months, rose to 101.3 from a revised 101.2 in January. Strong new car registrations, money supply growth and a rise in the FTSE non-financials index all helped push the indicator higher. Weaker consumer confidence and the yield curve acted as a counterweight. The NTC coincident indicator rose to a 3-1/2-year high of 102.0 in January compared with 101.8 in December. The coincident indicator is up for seven straight months, suggesting the economy has strengthened over that period.|||

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