Signs of Strength

Ataman Ozyildirim, an economist at The Conference Board, said in a press release announcing the October data, "The LEI rose sharply in October, with all components gaining over the previous six months. Despite a negative contribution from stock prices in October, and minimal contributions from new orders for consumer goods and average workweek in manufacturing, the LEI suggests the U.S. expansion continues to be strong." "The upward trend in the LEI points to continued economic growth through the holiday season and into early 2015," added Ken Goldstein, another Conference Board economist. "This is consistent with our outlook for relatively good, but not great, consumer demand over the near term.