Leading Economic Indicators Slips Slightly

Pulled down by last month's stock market rout and by dramatic slowing in ISM manufacturing orders, the index of leading economic indicators slipped an as-expected 0.1 percent in December. Positives in the month were led by a decline in unemployment claims as well as predictable strength in the report's credit and interest rate measures which are nearly always positive. The LEI is a composite of 10 separate indicators several of which are being delayed by the government shutdown and are being estimated by the Conference Board: building permits as well as factory orders for both capital goods and consumer goods all of which were nearly flat in the December report.