TGIF, I guess: Industrial production, leading economic indicators
SPY•Leading economic index weakens
Next, the Conference Board's (CB) Leading Economic Index (LEI) USLEAD=ECI unexpectedly deteriorated by 0.1% in August, backing down from July's 0.2% gain and defying expectations for a 0.1% move in the other direction.
The index is an amalgamation of 10 forward-looking economic indicators, including initial jobless claims, ISM new orders, building permits, yield spreads and S&P 500 price performance.
"Four out of ten components fell compared to the previous month, with consumer expectations remaining a significant strain on the Index,” writes Justyna Zabinska-La Monica, CB's senior manager of Business Cycle Indicators.
"The LEI’s six-month growth rate turned back to slightly negative, suggesting a less certain economic environment ahead," she adds. "The economy is still expanding, but growth is expected to slow."
According to UMich, consumers would agree:
