U.S. Economic News
October 18, 2019
U.S. Economic Indicators
The Conference Board’s Leading Economic Index (“LEI”) declined 0.1 percent in September following a 0.2 percent (revised) decline in August. Weakness in the manufacturing sector and the interest rate spread more than offset improvements in stock prices and credit conditions. Conference Board Report
U.S. News
The Financial Times reports that China’s economy grew at its slowest pace in nearly 30 years in 2019 Q3, growing just 6% compared to a year earlier. The weak growth figure was below analysts’ expectations and underscores the collective impact of the U.S.-China trade war, slowing income growth, and cooling manufacturing investment. FT
Justin Lahart reports for the Wall Street Journal that as U.S. consumers shift away from owning physical assets like cars, houses, and movies, rental and streaming services may give consumers more flexibility to trim expenses during a downturn. The flexibility of “asset-light” consumers, however, may leave businesses that rely on rentals and subscription services especially vulnerable to the next recession. FT