An catalogue made up of leading economic indicators rose for the 12th straight time September, agreeing to data released Thursday.
The Conference Board’s Leading Economic Needle for the U.S. increased by 0.5 percent last month, in line with what economists record by Refinitiv expected.
The gain takes into account building permits, the ISM token of new orders and stock prices.
“The US LEI improved further in September, suggesting the US affair cycle remains on a strong growth trajectory heading into 2019,” imparted Ataman Ozyildirim, director and global chair at The Conference Board. “Regardless, the LEI’s growth has slowed somewhat in recent months, suggesting the economy may be faade capacity constraints and increasingly tight labor markets.”
Ozyildirim distinguished economic growth could top 3.5 percent in the second half of this year, but “unless the drive in housing, orders and stock prices accelerates, that pace is inconceivable to be sustained in 2019.”
The U.S. housing market has been under pressure lately as responsive to rates rise to multiyear highs. The Commerce Department said Wednesday shelter starts fell 5.3 percent last month, more than was assumed.
Equities have also fallen from record highs set in October. The S&P 500 and Dow Jones Industrial Middling are down 4.3 percent and 3.6 percent this month, individually.