Leading Economic Indicators Index Rose in October
November 20 2017 - 11:06AM
Dow Jones News
By Cara Lombardo
An economic index that measures business trends increased in
October as impacts from a string of catastrophic hurricanes
dissipated.
The Conference Board Leading Economic Index rose 1.2% to 130.4.
Economists polled by The Wall Street Journal were expecting the
index to rise by 0.9%.
Metrics including average weekly manufacturing hours, building
permits and stock prices rose. The only negative contributor was
manufacturers' new orders for nondefense capital goods excluding
aircraft.
Comprising 10 components, 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.
The growth of index suggests that solid growth in the U.S.
economy will continue through the holiday season and into the new
year, said Ataman Ozyildirim, The Conference Board's director of
business cycles and growth research.
The board's coincident index -- designed to reflect current
economic conditions -- rose 0.3% in October from September.
The lagging index increased by 0.2% in October, following no
change in September and a 0.2% increase in August.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
November 20, 2017 10:51 ET (15:51 GMT)
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