The Conference Board Leading Economic Index declined 0.1% in October to 111.7 (2016 = 100), following a 0.2% decline in both September and August.
“The US LEI declined for a third consecutive month, and its six-month growth rate turned negative for the first time since May 2016. The decline was driven by weaknesses in new orders for manufacturing, average weekly hours, and unemployment insurance claims,” said Ataman Ozyildirim, senior director of economic research at The Conference Board. “The major difference this month is the softening in the labor market, whereas conditions in manufacturing remain weak and show no signs of improvement yet. Taken together, the LEI suggests that the economy will end the year on a weak note, at just below 2% growth.”
The Conference Board Coincident Economic Index for the U.S. was unchanged in October, remaining at 106.5 (2016 = 100), following a 0.1% increase in September, and a 0.3% increase in August. The Conference Board Lagging Economic Index for the U.S. increased 0.1% in October to 108.1 (2016 = 100), following a 0.1% increase in September, and a 0.6% decline in August.
