Leading Economic Indicators Show Little Growth

Growth isn't likely to pick up any steam going into year-end, at least based on the index of leading economic indicators which came in at only plus 0.1 percent in August following a revised no change reading for July. Working hours are down and new factory orders have been weak, offsetting strength in employment and consumer readings and also building strength in housing permits. The coincident index points to only marginal ongoing growth in August at plus 0.1 percent.

Recent History Of This Indicator:
The index of leading economic indicators is expected to rise 0.2 percent in August after dipping 0.2 percent in July. Unusual swings in housing permits have been distorting recent LEI readings which otherwise have been pointing to strong rates of growth ahead for the economy.