Leading Economic Indicators Rises Higher Than Expected

The index of leading economic index did rise a higher-than-expected 0.2 percent in November but in an unwanted offset, October has been revised 4 tenths lower to a sharp 0.3 percent decline. Stock prices have been dragging down the LEI but positives for November are led by gains in building permits and ISM manufacturing orders. A rise in initial jobless claims was a major negative in November as well as October but so far this month, claims have been moving lower. According to the report, recent results point to solid 2.8 percent GDP growth in the beginning of 2019 followed by moderation in the second half of the year.