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The U.S. leading economic index edged up in October, The Conference Board reported today. The index increased 0.2 percent in October to a reading of 97.5 (2004 = 100), following a 0.9 percent increase in September, and a 0.7 percent increase in September.
“The U.S.(leading economic index) has increased for four consecutive months,” said Ken Goldstein, economist at The Conference Board. “Overall, the data reflect strengthening conditions in the underlying economy. However, headwinds still persist from the labor market, accompanied by business caution and concern about federal budget battles. The biggest challenge to date has been relatively weak consumer demand, which continues to be restrained by weak wage growth and slumping confidence.”