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Leading Economic Index Dips for First Time in 12 Months

A leading economic index for the United States surprisingly dipped for the first time in 12 months. The Conference Board Leading Economic Index (LEI) fell by 0.2 percent to 128.6 at the end of September, following a 0.4 percent increase in August and a 0.3 percent increase in July.

Ataman Ozyildirim, director of business cycles and growth research at The Conference Board, said: ”The source of weakness was concentrated in labor markets and residential construction, while the majority of the LEI components continued to contribute positively. Despite September's decline, the trend in the U.S. LEI remains consistent with continuing solid growth in the U.S. economy for the second half of the year.”

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