This morning The October Conference Board Leading Economic Index (LEI) surged 1.2% which was twice the pace Wall Street anticipated. LEI saw nine of the ten components of the U.S. higher for the month of October:
While the LEI is a trailing dataset, in the past It has been very influential with the Federal Reserve, especially the Greenspan Fed.
This news dovetails a sharp spike in 4Q 2017 GDP estimate at the New York Federal Reserve. That move was driven by strong numbers on capacity utilization, industrial production along with housing starts and permits.
The last time GDP grew more than 3% in three straight quarters in a given year was on 1999.
|I would be curious about work participation numbers. Are we making headway with generational welfare for instance, getting people whose families haven't worked for generations on a payroll.. what about the folks who are no longer looking for work. Last statistic I saw (Fox Business) a week or two ago was 61% able bodied men...or so, not much different than 15 years ago... how to get this to move higher... not a good number if in fact, it is true.|
Joe-Annis Iodice on 11/20/2017 8:27:16 PM
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