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The Conference Board released its leading economic index for the U.S. on Thursday. The leading economic index decreased by 0.2% in September, missing expectations a flat reading, after a flat reading in August. August's figure was revised down from a 0.1% increase.
"The recent weakness in stock markets, the manufacturing sector and housing permits was offset by gains in financial indicators, and to a lesser extent improvements in consumer expectations and initial claims for unemployment insurance. The U.S. economy is on track for moderate growth of about 2.5 percent in the coming quarters, despite the mixed global economic landscape," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.
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