Leading index signals slowing in April

Wells Fargo Research Team Wells Fargo

Summary

While on the surface, the 0.3% dip in the Leading Index may send alarm bells ringing, April's decrease was partly affected by benign factors such as base effects leading to a negative contribution in jobless claims. More worrisome factors dragging on the index are ISM new orders and building permits. The economy is still growing (the Coincident Index added 0.4%), but trouble spots do exist.

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Wells Fargo Research Team

Wells Fargo

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