U.S. Leading Economic Index likely to have risen again in September

The U.S. Leading Economic Index is likely to have risen again in September. According to a Wells Fargo report, the index is expected to show another gain in the month, implying that the U.S. economy would continue to grow in months ahead. However, the rate appears to have decelerated slightly because of disruptions stemming from the recent storms.

Leading indicators of the labor market, including jobless claims and the average workweek dropped in August and are likely to further pull down the index. However, higher stock prices in September and relatively easy credit conditions suggested by the Leading Credit Index and interest rate spread, should be sufficient to counter the dip. Along with a stimulus from the ISM manufacturing report’s new orders index, the Leading Economic Index is expected to have risen 0.2 percent in September, added Wells Fargo.

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