US Economic Growth Slows In September

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US businesses are optimistic economic growth will remain solid, even as they face challenges with the post-pandemic recovery
US businesses are optimistic economic growth will remain solid, even as they face challenges with the post-pandemic recovery

The Conference Board reported Thursday that the U.S. economic index rose by 0.2% in September to 117.5 following a 0.8% increase in August and a 0.9% increase in July. The current figure fell short of the expected 0.4% projected by the Wall Street Journal.

Conference Board Senior Director of Economic Research Ataman Ozyildirim said the numbers suggest a more moderate trajectory compared to earlier in the year. Ozyildirim noted that the economic problems have been due to the Delta variant, inflation concerns, and supply chain disruptions. 

“Despite the LEI’s slower growth in recent months, the strengths among the components remain widespread. Indeed, The Conference Board continues to forecast strong growth ahead: 5.7 percent year-over-year for 2021 and 3.8 percent for 2022,” Ozyildirim said.

The Conference Board forecasts U.S. gross domestic product to expand 5.7% in 2021 and 3.8% in 2022.

The Coincident Economic Index remained unchanged in September at 105.8, while the Lagging Economic Index increased 0.3% to 106.5, The Conference Board noted.

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