U.S. Economy Leading Indicators Decline

SOURCE www.breitbart.com
The leading indicators for the U.S. economy dropped for the eighth consecutive month in October due to weakness in the housing market and manufacturing, as well as higher jobless claims. Despite challenges, the U.S. economy is expected to keep growing.

Key Points

  • Index of leading indicators dropped 0.3 percent in October
  • Manufacturing new orders remained weak in 11 out of 14 industries
  • Manufacturing hours worked fell significantly
  • Unemployment insurance claims rose
  • Building permits declined due to impact of hurricanes
  • Negative yield spread continued to affect the leading indicators
  • The U.S. economy is not signaling an imminent recession

Pros

  • Insight into the current state of the U.S. economy
  • Expectation of continued economic growth despite challenges

Cons

  • Weakness in the housing market and manufacturing
  • Higher jobless claims signaling economic challenges