LEI Rose Sharply in October; Economic Growth Will Continue through Early 2015
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.9 percent in October to 105.2 (2004 = 100), following a 0.7 percent increase in September, and no change in August.
"The LEI rose sharply in October, with all components gaining over the previous six months," said Ataman Ozyildirim, Economist at The Conference Board. "Despite a negative contribution from stock prices in October, and minimal contributions from new orders for consumer goods and average workweek in manufacturing, the LEI suggests the U.S. expansion continues to be strong."
"The upward trend in the LEI points to continued economic growth through the holiday season and into early 2015," said Ken Goldstein, Economist at The Conference Board. "This is consistent with our outlook for relatively good, but not great, consumer demand over the near term. Going forward, there are continued concerns about slow business investment and lackluster income growth."
The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 0.1 percent in October to 110.2 (2004 = 100), following a 0.3 percent increase in September, and a 0.1 percent increase in August.
The Conference Board Lagging Economic Index® (LAG) for the U.S. declined 0.1 percent in October to 124.9 (2004 = 100), following a 0.1 percent increase in September, and a 0.5 percent increase in August.