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A gauge of future growth shows the U.S. economy should continue to expand at a slow pace, the Conference Board said Thursday (Oct. 19).
CBS Marketwatch reported that the index of leading economic indicators rose 0.1% in September after falling in July and August. The index has dropped in five of the past eight months, and is down 0.9% in the past six months.
Economists expected the leading index to rise 0.3%, according to a survey conducted by MarketWatch. The leading index fell 0.2% in August and 0.3% in July.
“The behavior of the leading index so far suggests that economic growth should continue at the slow rate in the near term,” the New York-based private research group said.
Five of the 10 leading indicators rose in September: Consumer expectations, money supply, stock prices, jobless claims and core capital equipment orders.
Five others fell: Building permits, factory working hours, delivery times, the interest-rate spread and new orders for consumer goods.
In the past six months, 45% of the indicators have been positive.