October 20, 2008
Leading Index Up, Financials Dragging Economy Down
By Matthew L. Brown
The nation's economy is contracting but is neither falling apart nor in free fall, according to the Conference Board's Composite Index of Leading Economic Indicators, which edged up 0.3 percent in September.
The September increase was the first in five months and followed a 0.9 percent August decline. The increase was fueled by money supply, consumer expectations and interest rates, the board said.
The board, which is based in New York City, said volatility in the financial market will weaken the economy further, but noted that conditions in the "non-financial economy" are contracting but not falling apart. The turmoil in the financial markets could delay a recovery in the economy as a whole by a full year, the board said.
WBJ Web Partners
Most Recent
Most Recent
0 Comments