A “mild pickup” may be in store for the U.S. economy this spring following a post-holiday lull, the Conference Board said Thursday as it reported that its leading economic index rose 0.5% in October.
Economists polled by MarketWatch had expected the index, a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs, to gain 0.6%. October’s result was supported by gains in the financial components.
Six of the 10 indicators rose in October, with the largest contribution from the interest rate spread. Among the two negative contributors, the largest negative contribution came from the index of supplier deliveries. Two of the indicators held steady in October.
Source: Conference Board