The composite index of Leading Economic Indicators was up 0.8% in September following a revised flat level in August, first reported as a 0.2% climb, the Conference Board reported Thursday.
The coincident index gained 0.4% in September after a revised 0.1% rise in August, first reported as a 0.2% increase while the lagging index rose 0.1% after an unrevised 0.3% rise in August.
The LEI stands at 104.4, the coincident index is at 110.2 and the lagging index is at 125.1 The LEI has a baseline of 100, which reflects the level in 2004.
Economists polled by Thomson Reuters predicted LEI would grow 0.6% in the month.
"The financial markets are reflecting turmoil and unease, but the data on the leading indicators continue to suggest moderate growth in the short-term," said the Conference Board economist Ken Goldstein. "The financial markets are reflecting turmoil and unease, but the data on the leading indicators continue to suggest moderate growth in the short-term."
"The LEI picked up in September, after no change in August, and the strengths among its components have been very widespread over the past six months," said Ataman Ozyildirim, an economist at The Conference Board. "The outlook for improving employment and further income growth are expected to support the moderate expansion in the U.S economy for the remainder of the year."
