Leading economic index rises 0.6% in September (by Ruth Mantell)
WASHINGTON (MarketWatch) -- The U.S. economy is "fluctuating around a slow growth trend," the Conference Board said Thursday as it reported that its leading economic index rose 0.6% in September after declining a downwardly revised 0.4% in August. A prior estimate for August pegged the decline at 0.1%. "The single biggest challenge remains weak demand, domestically and globally," said Ken Goldstein, an economist at the Conference Board, a New York research group. September's result surpassed analysts' expectations of a 0.2% gain. The LEI is a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs. Six of the 10 indicators made positive contributions in September, led by building permits. The biggest negative contribution came from new orders for manufacturers.