The Conference Board's index of leading economic indicators, a measure that suggests the direction of the U.S. economy for the next three to six months, increased two-tenths of a percentage point in October. The leading index now stands at 138.3 (1996=100).
Revised data from the New York-based business research group show the leading index rose four-tenths percent in September and decreased three-tenths of a percentage point in August.
Contributing to October's index increase were average weekly manufacturing hours and manufacturers' new orders for consumer goods and materials. Six the 10 indicators that comprise the index advanced in October. Four indications, including manufacturers' new orders for non-defense capital goods, declined.