US leading economic indicators increased unexpectedly for a second straight month in January, said an economic research group on Thursday.

The New York-based Conference Board said its Leading Economic Index (LEI) rose 0.4 percent last month, following a 0.2 percent increase in December and a 0.7 percent decline in November.

LEI is a measure of US economic activities which is based on 10 economic components, including stock prices, building permits and initial claims for unemployment benefits.

"The economy has been in recession for over a year, but the level of intensity may begin to ease over the next few months," said Ken Goldstein, Economist at the Conference Board. "The second half of 2009 may see a period of anemic growth."

Five of the 10 factors that make up the LEI index increased in January, while unemployment claims and building permits were dragging down the January index mostly.

"A return to robust growth may not occur until well into 2010, even if the long climb starts a few months from now," warned Goldstein.

(Xinhua News Agency February 20, 2009)