The Conference Board announced on Friday its Leading Economic Index (LEI) for the U.S. edged down 0.1 in September to 111.9 (2016 = 100), following a revised 0.2 percent decrease in August (originally a 0.3 percent m-o-m drop).

Economists had forecast an advance of 0.1 percent.

Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said “The US LEI declined in September because of weaknesses in the manufacturing sector and the interest rate spread which were only partially offset by rising stock prices and a positive contribution from the Leading Credit Index. The LEI reflects uncertainty in the outlook and falling business expectations, brought on by the downturn in the industrial sector and trade disputes. Looking ahead, the LEI is consistent with an economy that is still growing, albeit more slowly, through the end of the year and into 2020.”

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. was unchanged in September, remaining at 106.4, following a 0.3 percent advance in August. Meanwhile, its Lagging Economic Index (LAG) for the U.S. rose 0.1 percent in September to 108.3, following a 0.4 percent drop in August.