U.S. Leading Economic Index Ticks Down in September
October 18 2019 - 10:41AM
Dow Jones News
By Dave Sebastian
An economic index that measures U.S. business trends declined
0.1% in September from August following a 0.2% decline in August
and a 0.4% rise in July.
The Conference Board Leading Economic Index was 111.9 in
September. Economists polled by The Wall Street Journal expected
the index reading to remain unchanged for the month.
Rising stock prices and the leading credit index partially
offset weaknesses in the manufacturing sector and interest rate
spread, Friday's report said.
"The LEI reflects uncertainty in the outlook and falling
business expectations, brought on by the downturn in the industrial
sector and trade disputes," Ataman Ozyildirim, senior director of
economic research at the Conference Board said in a statement.
"Looking ahead, the LEI is consistent with an economy that is still
growing, albeit more slowly, through the end of the year and into
2020."
Comprising 10 factors including initial claims for jobless
benefits, factory orders and the S&P 500's price change, the
index is intended to signal swings in the business cycle and to
smooth out some of the volatility of individual indicators.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 18, 2019 10:26 ET (14:26 GMT)
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