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Financial News: U.S. Leading Economic Index Unexpectedly Unchanged In Nove

U.S. Leading Economic Index Unexpectedly Unchanged In November

12/19/2019 - 11:38:00 (RTTNews)

(RTTNews) - With strength in residential construction, financial markets, and consumers' outlook offsetting weakness in manufacturing and labor markets, the Conference Board released a report on Thursday showing its reading on leading U.S. economic indicators came in unchanged in November.

The Conference Board said its leading economic index was unchanged in November after dipping by 0.2 percent in both September and October. Economists had expected the index to inch up by 0.1 percent.

"The US LEI was unchanged in November after three consecutive monthly declines," said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board.

He added, "While the six-month growth rate of the LEI remains slightly negative, the Index suggests that economic growth is likely to stabilize around 2 percent in 2020."

The report said the coincident economic index climbed by 0.4 percent in November after edging down by 0.1 percent in October.

The lagging economic index also increased by 0.5 percent in November after rising by 0.2 percent in the previous month.

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