A closely watched measure of future U.S. economic activity rose at a slower pace in October as businesses delayed investment in anticipation of domestic fiscal policy changes set to take effect in January, a private research organization reported Wednesday, suggesting continuing weak growth. The Conference Board said its index of leading economic indicators—designed to predict activity in the coming three to six months—increased 0.2 percent last month following a 0.5 percent gain in September. Four of the 10 indicators that comprise the index contributed to the increase, including lower interest rates, a drop in jobless claims, and an increase in demand for expensive manufactured items. Two indicators were unchanged, while four were negative. The Conference Board's index of coincident indicators, a measure of current economic activity, increased 0.1 percent last month after a 0.2 percent gain in September. The index of lagging indicators, which tracks previous activity, rose 0.3 percent in October after falling 0.1 percent the previous month.
