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First Cut: Lackluster new manufacturing orders continue to restrain Leading Economic Index in November

The Conference Board’s Leading Economic Index for November was flat at 111.6, and only slightly better than the down 0.2% of October and September. Growth prospects continued to be restrained by lackluster new orders. While the probability of a downturn is receding, the outlook for growth remains modest.

Six of 10 components of the index were positive, 2 were negative and 2 were neutral. The largest negative was the ISM new orders index and average weekly jobless claims added a bit to that. The two managed to offset the positives. The largest positive contributions were from stocks prices and the Leading Credit Index.

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