Leading Economic Indicators Rise Only Slightly

Held down by sharp losses in the stock market and a rise in unemployment claims, the index of leading economic indicators rose only 0.1 percent in October. Offsets, however, are upward revisions to the prior two months, both 1 tenth higher at strong gains of 0.6 and 0.5 percent.

Gains in the October report are led by consumer expectations yet also two predictable components that are nearly always strongly positive, the report's yield-spread and credit readings. Also helping was the ISM new orders index for manufacturing with building permits a slight drag.

Despite strength in earlier months, today's results hint at a peaking in the economic pace and moderation going into next year.