U.K. LONGER CYCLICAL INDICATOR RISES IN FEBRUARY

  The U.K. Longer leading cyclical
  indicator rose in February by 5.8 pct after January's 1.9 pct
  rise, figures from the Central Statistical Office show.
      The indicator, base 1980, which shows trends in the economy
  12 months ahead, was put at 108.7 in February compared with
  102.7 in January and 99.5 in February 1986.
      The shorter leading indicator, signalling trends six months
  ahead, was put at 97.1 for January, the latest month for which
  data were available, after December's 96.5. This compared with
  98.4 in January 1986.
      The coincident indicator, designed to signal current
  turning points in the economy, was put at 91.2 in January, down
  from 91.9 in December and 91.6 in january 1986.
      The lagging index, which the CSO says shows a turning point
  in the economy about a year after it happens, was at 92.4 in
  January, down from 92.5 in December and 93.0 a year earlier.
      The Office said leading indicators still do not show a
  consistent picture of the likely future developments of the
  business cycle in Britain.
      It said the strong rise in the longer leading index between
  December and February was due mainly to rises in share prices.
  

