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Recession risks recede: Conference Board - Economic Report - MarketWatch
Friday, as its index of leading economic indicators grew 0.9% in October — the largest growth since February — led by gains in building permits.
The index “is pointing to continued growth this winter, possibly even gaining a little momentum by spring,” said Ken Goldstein, a Conference Board economist, in a statement. He added that relatively low consumer confidence has been “the biggest obstacle in generating forward momentum.”
Economists polled by MarketWatch had expected growth of 0.7%. The Conference Board revised September’s result down to 0.1% growth from a prior estimate of 0.2% gain.
The LEI is a weighted gauge of 10 indicators that are designed to signal business-cycle peaks and troughs.
October’s result suggests persistent strong economic activity, said Millan Mulraine, TD Securities’ economics strategist.
“On the whole, this report underscores the positive tone of the recent flow of economic reports pointing to a meaningful pick-up in overall economic activity during the quarter,”
Friday, as its index of leading economic indicators grew 0.9% in October — the largest growth since February — led by gains in building permits.
The index “is pointing to continued growth this winter, possibly even gaining a little momentum by spring,” said Ken Goldstein, a Conference Board economist, in a statement. He added that relatively low consumer confidence has been “the biggest obstacle in generating forward momentum.”
Economists polled by MarketWatch had expected growth of 0.7%. The Conference Board revised September’s result down to 0.1% growth from a prior estimate of 0.2% gain.
The LEI is a weighted gauge of 10 indicators that are designed to signal business-cycle peaks and troughs.
October’s result suggests persistent strong economic activity, said Millan Mulraine, TD Securities’ economics strategist.
“On the whole, this report underscores the positive tone of the recent flow of economic reports pointing to a meaningful pick-up in overall economic activity during the quarter,”
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