Leading Economic Indicators Rise; Manufacturing Expands at Slower Pace in Philadelphia
An index of leading economic indicators increased 0.6% in November, the New York-based Conference Board said Dec. 18.
The increase was higher than economists’ medium forecast, Bloomberg News reported.
LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.
In a separate report, the Federal Reserve Bank of Philadelphia said manufacturing activity in that region dropped 16 points in December.
The regional Fed’s index dropped to a 24.5 reading from 40.8 in November. Readings above zero show expansion.
The Philadelphia Fed surveys about 100 manufacturers for the index in eastern Pennsylvania, Delaware and southern New Jersey.
