The composite index of Leading Economic Indicators was up 0.1% in October following an unrevised 0.2% increase in September, the Conference Board reported Friday.
The coincident index gained 0.1% in October after a revised 0.1% gain in September, first reported as a 0.2% increase, while the lagging index rose 0.2% after an unrevised 0.2% rise in September.
The LEI stands at 124.5, the coincident index is at 114.3 and the lagging index is at 122.9 The LEI has a baseline of 100, which reflects the level in 2010.
Economists polled by Thomson Reuters predicted LEI would be up 0.1% in the month.
"The U.S. LEI increased in October for a second consecutive month. Although its six-month growth rate has moderated, the index still suggests that the economy will continue expanding into early 2017," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "The interest rate spread and average weekly hours were the main drivers of October's improvement, helping to offset some of the weaknesses in claims for unemployment insurance and new orders."
