Leading Economic Indicators Post Solid Advance

Led by a surge in ISM manufacturing orders, the index of leading economic indicators posted a solid 0.4 percent advance in August. The report's credit measure and interest-rate measure were both strong contributors as were consumer expectations and stock prices. Building permits were a prominent weakness to underscore the flat results of this morning's existing home sales report. But housing aside, the LEI is pointing to a healthy finish for the 2018 economy.