US Leading Economic Index Remains Unchanged in September

The Conference Board reported Thursday that the U.S. leading economic index (LEI) remained unchanged in September. The result defied economist expectations of a 0.2 percent dip and followed a 0.1 percent decline in August.

Justyna Zabinska-La Monica, senior manager of business cycle indicators at the organization, noted that five of ten components contributed positively to the index, specifically the interest rate spread and average weekly hours in manufacturing. However, these gains were offset by a large decline in consumer expectations and smaller negative contributions from stock prices, building permits, and new orders for capital goods.

Between March and September, the LEI grew by 0.6 percent, which reversed a 1.1 percent slump from the previous six months. Other indicators showed growth in September, with the coincident economic index rising by 0.3 percent and the lagging economic index climbing by 0.5 percent.