NEW YORK, Nov. 19 (Xinhua) -- The Conference Board, an economic research group, said Thursday that its leading economic index (LEI)for the United States increased 0.3 percent for the seventh consecutive month in October.

    The LEI for the United States increased 0.3 percent in October, following a 1.0 percent gain in September, and a 0.4 percent rise in August, said the Conference Board in a report.

    "After half a year of consecutive increases, the month-to-month growth of the LEI is stabilizing and the gains continue to be broad-based," said Ataman Ozyildirim, economist at the Conference Board.

    "Meanwhile, the coincident economic index has been essentially flat since June, after declining since November 2007. The composite indexes suggest the recovery is unfolding and economic activity should continue improving in the near term," he added.

    "The data indicate that economic recovery is finally setting in. We can expect slow growth through the first half of 2010. The pace of growth, however, will depend critically on how much demand picks up, and how soon," said Ken Goldstein, economist at the Conference Board.

    The Conference Board coincident economic index for the United States was unchanged in October, following a 0.1 percent decline in September, and a 0.1 percent increase in August.

    The Conference Board lagging economic index declined 0.2 percent in October, following a 0.5 percent decline in September, and a 0.4 percent decline in August.