The Conference Board reports that the Composite Index of Leading Economic Indicators declined 0.4 percent in November, following a 0.5 percent decline in October, and a 0.1 percent increase in September.
Says Ken Goldstein, Labor Economist at The Conference Board: “The data are pointing to weak economic growth this winter.
The Leading Economic Index (LEI) has been down significantly in three of the past four months. Also, the Coincident Economic Index (CEI), which measures where the economy is at present, has turned softer in the past two months.”
The CEI had been very steady — rising in a range of 0.1-to-0.2 percent per month through September. While the financial markets gyrated, and the slump in housing intensified, and the price of a gallon of gasoline (and a gallon of milk) continued to move up, the CEI remained steady.
“In the past two months, the CEI finally showed some sign of yielding to this unrelenting pressure,” says Goldstein. “And the LEI is pointing to more of the same after the new year, perhaps even some consistent declines.”
The Conference Board reports that the Coincident Index increased 0.2 percent in November, following a 0.1 percent decline in October, and a 0.1 percent increase in September.
The Lagging Index increased 0.2 percent in November, following a 0.3 percent increase in October, and a 0.5 percent increase in September.
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