The Conference Board Leading Economic Index (LEI) for the U.S. suggests an outlook for a better employment picture and future income growth.
The LEI was up 0.8% in September to 104.4 (2004 = 100), following no change in August, and a 1.1% increase in July.
"The strengths among [the LEI's] components have been very widespread over the past six months," said Ataman Ozyildirim, an economist at The Conference Board. "The outlook for improving employment and further income growth are expected to support the moderate expansion in the U.S economy for the remainder of the year."
The Conference Board Coincident Economic Index for the U.S. increased 0.4% in September to 110.2 (2004 = 100), following a 0.1% increase in August, and a 0.3% increase in July. The Conference Board Lagging Economic Index for the U.S. increased 0.1% in September to 125.1 (2004 = 100), following a 0.3% increase in August, and a 0.2% increase in July.
Ken Goldstein, an economist at The Conference Board, said, "The financial markets are reflecting turmoil and unease, but the data on the leading indicators continue to suggest moderate growth in the short-term. Meanwhile, the weak advances in the housing market remain a bigger risk to the outlook than short-term financial gyrations."