Leading indicators rise 0.9 percent in October
WASHINGTON (AP) — A gauge of future economic activity rose at solid pace in October, offering hope that the economy may see stronger growth in coming months.
The Conference Board reports that its index of leading economic indicators rose 0.9 percent last month, significantly faster than the revised 0.1 percent rise in September and the 0.3 percent increase in August.
The economy, after growing at an anemic pace of just 0.9 percent in the first six months of the year, grew at a 2.5 percent rate in the July-September quarter. Some analysts are looking for even stronger growth in the current October-December quarter.