US economic bellwether posts slower monthly gain
The index of leading indicators, designed to show what is in store for the economy, rose a moderate 0.9 percent in October, the Commerce Department said -- suggesting the economic recovery is slowing. The 0.9 percent rise follows a revised 3.1 percent gain in September.
Seven of the 10 indicators the department measures contributed to the October rise -- the fifth consecutive monthly increase. An increase in new orders for materials and for manufacturing and consumer goods contributed most to the increase, the department said.The report also showed that the average workweek increased and the layoff rate slowed.