Wednesday December 2nd, 2015 2:01AM

Measure of future US economic activity up .2 percent

By The Associated Press
WASHINGTON (AP) -- A measure of the U.S. economy intended to signal future activity rose only slightly last month, suggesting growth could stay weak.

The Conference Board said Wednesday that its index of leading indicators increased 0.2 percent in October after a 0.5 percent gain in September. The index is intended to anticipate economic conditions three to six months out.

The strength in October came from lower interest rates, a drop in applications for unemployment benefits, and an increase in demand for large manufactured goods.

Applications for unemployment aid have spiked this month because Superstorm Sandy closed businesses and cut off power to 8 million homes in 10 states. People can claim unemployment benefits if their workplaces are forced to close and they aren't paid.

In all, only four of the 10 indicators that make up the index improved. The major areas of weakness were a decline in building permits, a drop in consumer confidence, a decline in the Institute for Supply Management's new orders index and lower stock prices.

"Based on current trends, the economy will continue to expand modestly through the early months of 2013," Ken Goldstein, an economist at the Conference Board, said.

Many analysts predict growth at an annual rate of roughly 3 percent in the July-September quarter, up from the initial estimate of 2 percent reported last month. The government releases its second estimate for third-quarter growth on Nov. 29.

But many economists expect growth to slow in the current October-December quarter to an annual rate below 2 percent. Part of the slowdown is likely to occur because of Superstorm Sandy, which disrupted businesses and cut off power throughout the Northeast.

Many companies may also hold off on hiring and new investment until the White House and Congress resolve the "fiscal cliff," the package of tax cuts and spending increases scheduled to take effect Jan. 1.

If the cliff is avoided, many analysts think growth could accelerate next year.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Doctors: Blood clot located in Clinton's head
Secretary of State Hillary Rodham Clinton developed a blood clot in her head but did not suffer a stroke or neurological damage, her doctors said Monday. They say they are confident that she will make a full recovery.
3:55PM ( 2 years ago )
Illinois Sen. Kirk to return a year after stroke
Nearly a year after a stroke left him barely able to move the left side of his body, U.S. Sen. Mark Kirk is expected to climb the 45 steps to the Senate's front door this week - a walk that's significant not just for Illinois' junior senator, but also for medical researchers and hundreds of thousands of stroke patients.
3:54PM ( 2 years ago )
U.S. News
Ga. ethics legislation could end free tickets
General Assembly approval next year of a proposed ethics reform measure could endanger an important fall tradition for Georgia lawmakers - free football tickets.
6:26PM ( 2 years ago )
Abortion restrictions, tax changes loom in Ga.
Tax breaks for manufacturers and higher unemployment taxes for employers take effect with the new year in Georgia, but it remains to be seen whether the state's newest abortion restrictions will be enforced.
6:23PM ( 2 years ago )
Business News
Couch names administrative team
Ahead of his scheduled swearing in Friday, Hall County Sheriff-elect Gerald Couch named his top administrative team Monday.
6:28PM ( 2 years ago )
Tech beats Southern California in Sun Bowl
Tevin Washington threw a touchdown pass and ran for another score to help Georgia Tech beat Southern California 21-7 on Monday in the Sun Bowl.
5:54PM ( 2 years ago )
Hall Co. officials launch health-based initiative for employees
Hall County officials believe healthy county employees will be of greater service to the county. With that in mind, they have created a health-based fitness initiative to provide free fitness training for county workers.
5:46PM ( 2 years ago )
Local/State News
White House offers governors info on refugees in their states after Syrian migrants uproar
WASHINGTON (AP) — The White House is proposing to offer governors individualized reports about refugees in their states.White House chief of staff Denis McDonough says in letters to all 50 governors t...
9:08PM ( 1 day ago )
Standoff at Planned Parenthood ends with suspect's arrest; 3 killed, 9 wounded
COLORADO SPRINGS, Colo. (AP) — A gunman who opened fire inside a Planned Parenthood clinic was arrested Friday after engaging in gun battles with authorities during an hourslong standoff that killed t...
1:13AM ( 4 days ago )
White House undergoes Thanksgiving Day lockdown after man draped in American flag jumps fence
WASHINGTON (AP) — A man draped in an American flag climbed over the fence at the White House on Thursday, prompting a lockdown as the first family celebrated Thanksgiving.The man was immediately appre...
10:11PM ( 5 days ago )
Obama grants reprieve to turkeys 'Honest' and 'Abe' during White House ceremony
WASHINGTON (AP) — President Barack Obama spared two turkeys named for one of the nation's most admired presidents, continuing a White House tradition that provides a refreshing sense of amusement and...
9:18PM ( 6 days ago )
The Latest: UN Security Council strongly condemns 'horrifying' attack in Mali, urges probe
BAMAKO, Mali (AP) — The latest on the attack on a hotel in the Malian capital of Bamako. (All times local):___4:55 a.m.The U.N. Security Council is condemning "the horrifying terrorist attack" at the...
10:58PM ( 1 week ago )