NEW YORK. Dec 31: A gauge of future economic growth increased 0.1 per cent in November. the 10th straight month without a drop and the latest sign of moderate but steady economic growth, reports AP.

The slight gain in the Index of Leading Economic Indicators. released Monday by the Conference Board, follows a revised flat reading in October and a 0.1 per cent September increase.

The report, which is designed to forecast economic activity six to nine months in advance’, is the latest piece of evidence pointing to moderate growth with little Inflation.

Still, there have been signs of some weakness in slightly disappointing holiday sales and last week's report of lower than expected durable goods orders.

Wall Street has welcomed hints of slow growth, which would likely prevent the Federal Reserve from raising interest rates.

Bond prices rose slighUy after the figures, which were in line with expectations, were re-

leased.

"it's just been pretty flat." Suzanne Rizzo, an economist at Maria Fiorini Ramirez Inc., said of the index. "It's not signaling strong growth. It's sort of a nowhere number."

November's numbers Include revisions that deleted two components — sensitive materials prices and unfilled durable goods orders. One component, measuring the difference between 10-year Treasury bond interest rates and the shortterm federal funds rate, was added.

"The new components don't seem to make a heck of a lot of difference." Rizzo said.

Higher stock prices were the biggest contributor to the November gain, followed by money supply, consumer expectations and building permits. The new interest-rate component was the biggest drain on the index.

The index's November reading of 102.G compares with revised October and September levels of 102.5. The index oper-

ates from a base of 100. set in 1992.

Two sister indexes, the coincident and lagging indexes, also rose. The index of coincider' Indicators, which looks at the economy's current condition, rose 0.3 per cent in November and the lagging indicators index. which looks backwards, rose 0.1 per cent for the month.