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Leading indicators steady
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November 3, 1998: 10:43 a.m. ET
September figures show continued growth, though at a slower rate
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NEW YORK (CNNfn) - The leading economic indicators remained flat in September, as expected, suggesting continued but slower growth for the nation, the Conference Board reported Tuesday.
Both the leading and coincident indexes for the month held steady, while the lagging index fell 0.1 percent.
The leading index stood at 105.5 for the third straight month. Its last increase was 0.5 percent in July.
According to the Conference Board, the coincident indicators suggest that expansion advanced in the 2- to 2.5-percent range in the third quarter, compared with constant-dollar Gross Domestic Product showing a 3.3 percent annualized increase.
The 30-year Treasury bond climbed 15/32 for a yield of 5.217 percent following the report.
Five components of the leading index fell, while four rose, and one held steady in September.
The most significant declines were stock prices, interest rate spread and building permits, while positive contributors in September included the money supply.
But Conference Board Economist Delos Smith said the recently lowered interest rates and increased stock market stability should contribute to stronger numbers in October.
"It shows a slowdown but no deterioration," he said. "The economic system is in a pause, a rest, or whatever you want to call it, but it's not deteriorating." 
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Conference Board
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