USA: sharper than expected fall in leading indicators

(CercleFinance.com) - The index of leading indicators, which is supposed to forecast economic activity in the United States, fell slightly more sharply than expected in October, the Conference Board announced on Thursday, citing the effects of the recent hurricanes.


This leading indicator fell by 0.4% last month, to 99.5, following a 0.3% decline in September, when analysts were expecting a 0.3% drop.

The sluggishness of industrial orders was the main contributor to the indicator's decline, says ConfBoard, although the fall in the number of hours worked in the manufacturing sector, the rise in unemployment registrations and the decline in building permits also weighed.

Beyond the temporary impact of the recent hurricanes, the trade body believes that the indicator still points to 'difficulties ahead for economic activity'.

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