US November building permits leave Leading Economic Index forecast revised up

Census Bereau reported earlier today that November total building permits climbed 11% mom to 1.289 mn, which came in way above than expected.

This monthly change in building permits feeds directly into the Conference Board's Leading Economic Index®.

"Thus, we have revised up our forecast for November to 0.4% m/m (from 0.1%) as we now expect building permits to add 0.3pp from the headline reading", says Barclays in a research note.