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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