US leading economic indicator at five-month high in Dec US leading economic indicator at five-month high in Dec - Business WASHINGTON - A gauge of future U.S. economic activity rose to a five-month high in December as labor market conditions improved, the Conference Board said on Thursday, pointing to continued momentum in the recovery. The group's Leading Economic Index increased 0.4 percent to 94.3, the highest level since July, after rising by a revised 0.2 percent in November. Economists polled by Reuters had expected the index to increase 0.7 percent after a previously reported 0.5 percent gain. "The LEI provides some reason for cautious optimism in the first half of 2012," said Ken Goldstein an economist at the Conference Board. This somewhat positive outlook for a strengthening domestic economy would seem at odds with a global economy that is losing steam. Reporting By Lucia Mutikani; Editing by Chizu Nomiyama