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.
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(END) Dow Jones Newswires
October 18, 2019 10:26 ET (14:26 GMT)
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