Leading Indicators Drop (again)

The Leading Economic Indicators dropped 0.7% in September. The Conf Board blamed higher energy prices, declining consumer confidence and a rise in jobless claims for the index’ decline. Recall that the LEIs were recently revised to maintain a more positive bias.

The Conference Board blamed the decline on "the negative impact of the hurricanes and flooding, resulting in lost jobs and incomes, and lost output" and admitted that "we could be in for slower economic growth through the end of the year."

Only 4 of the 10 indicators that showed improvement: vendor performance, building permits, interest rate spread and stock prices.

Negatives: weekly initial jobless claims, Consumer expectations, real money supply, manufacturers’ new orders (nondefense capital goods), manufacturers’ new orders (consumer goods),and  materials  all weakened.

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Sources:
U.S. LEADING ECONOMIC INDICATORS AND RELATED COMPOSITE INDEXES FOR SEPTEMBER 2005
http://www.conference-board.org/economics/bci/pressRelease_output.cfm?cid=1
(See also PDF)

Leading Indicators Drop 0.7% Amid Increasing Energy Costs
DOW JONES NEWSWIRES
October 20, 2005 10:28 a.m.
http://online.wsj.com/article/SB112981122090274284.html

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