Leading Indicators Are Again Unchanged

The U.S. index of leading economic indicators, a key measure of future economic activity, was unchanged at 105.5 in September for the third straight month, another sign of slower growth in coming months. Economists had predicted a slight decline in the Conference Board’s index, which is intended to project economic activity six to nine months in advance. Five of the leading index’s 10 components fell in September, led by stock prices. Four components, led by money supply, posted increases. The average factory workweek remained steady. The Conference Board’s index of coincident indicators for September, which looks at the economy’s current condition, also remained unchanged from August. The lagging-indicators index, which looks at the past, decreased. “The economy will be hard-pressed to match the robust growth posted the past few years,” said Michael Boldin, a Conference Board economist. “Still, the leading index is considerably higher now compared with last year, and rising consumer spending and low interest rates should keep us out of a recession.”