The composite index of Leading Economic Indicators was down 0.2% in September following a flat reading in August, first reported as a 0.1% rise, the Conference Board reported Thursday.
The coincident index gained 0.2% in August after an unrevised 0.1% rise in August, while the lagging index grew 0.5% after a revised 0.1% rise in August, first reported as a 0.2% gain.
The LEI stands at 123.3, the coincident index is at 112.8 and the lagging index is at 119.0 The LEI has a baseline of 100, which reflects the level in 2010.
“Despite September’s decline, the U.S. LEI still suggests economic expansion will continue, although at a moderate pace,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The recent weakness in stock markets, the manufacturing sector and housing permits was offset by gains in financial indicators, and to a lesser extent improvements in consumer expectations and initial claims for unemployment insurance. The U.S. economy is on track for moderate growth of about 2.5 percent in the coming quarters, despite the mixed global economic landscape.”
