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Financial News: U.S. Leading Economic Index Unexpectedly Rises 0.2% In

U.S. Leading Economic Index Unexpectedly Rises 0.2% In November

12/20/2018 - 10:21:00 (RTTNews)

(RTTNews) - A report released by the Conference Board on Thursday showed a modest increase by leading U.S. economic indicators in the month of November.

The Conference Board said its leading economic index rose by 0.2 percent in November after falling by a revised 0.3 percent in October.

Economists had expected the index to come in unchanged compared to the 0.1 percent uptick originally reported for the previous month.

"The LEI increased slightly in November, but its overall pace of improvement has slowed in the last two months," said Ataman Ozyildirim, Director of Economic Research at the Conference Board.

He added, "Solid GDP growth at about 2.8 percent should continue in early 2019, but the LEI suggests the economy is likely to moderate further in the second half of 2019."

The modest increase by the leading economic index reflected positive contributions from seven of the ten indicators that make up the index, including building permits, the ISM New Orders Index, and the interest rate spread.

Negative contributions from average weekly initial jobless claims, stock prices, and average weekly manufacturing hours limited the upside for the index.

The report said the coincident economic index also edged up by 0.2 percent in November after inching up by 0.1 percent in October, reflecting positive contributions from all four indicators that make up the index.

Additionally, the Conference Board said the lagging economic index climbed by 0.4 percent in November following a 0.5 percent increase in October.

The continued advanced by the lagging index reflects positive contributions from four of its seven components, including the average duration of unemployment and commercial and industrial loans outstanding.

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