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The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.2 percent in October to 96, following a 0.5 percent increase in September and a 0.4 percent decline in August. The Conference Board Coincident Economic Index (CEI) increased 0.1 percent, and the Conference Board Lagging Economic Index (LAG) increased 0.3 percent.
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“The U.S. LEI increased slightly in October, the second consecutive increase. The LEI still points to modestly expanding economic activity in the near term. Over the last six months, improvements in the residential construction and financial components of the LEI have offset weak consumer expectations, manufacturing new orders and labor market components. Meanwhile, the coincident economic index also increased slightly in October,” says Ataman Ozyildirim, economist at The Conference Board.
“Based on current trends, the economy will continue to expand modestly through the early months of 2013. Hurricane Sandy, which is not yet fully reflected in the LEI, will likely adversely affect consumer spending and home building in the short-term, but it’s too soon to gauge the net impact. In addition, the outcome of the fiscal cliff debates is another factor which could alter the outlook,” says Ken Goldstein, economist at The Conference Board.
The Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.1 percent in October to 104.8, following a 0.2 percent increase in September and a 0.4 percent decline in August.
The Conference Board Lagging Economic Index (LAG) increased 0.3 percent in October to 117.1, following a 0.1 percent decline in September and a 0.4 percent increase in August.