“The September LEI suggest the economy was expanding modestly and possibly gaining momentum before the government shutdown,” said Ken Goldstein, Economist at The Conference Board. “Beyond the immediate fallout of the shutdown, the biggest challenge is whether relatively weak consumer demand, pinned down by weak wage growth and low levels of confidence, will recover during the final stretch of 2013 and into 2014.”
“After a brief pause, the U.S. LEI rose sharply in July and August, resuming its upward trend,” said Ataman Ozyildirim, Economist at The Conference Board. “If the LEI’s six-month growth rate, which has nearly doubled, continues in the coming months, economic growth should gradually strengthen through the end of the year. Despite weakness in residential construction, consumer expectations, and the stock market, improvements in the LEI’s labor market and financial components, as well as new manufacturing orders, drove this month’s gain.”
– Ataman Ozyildirim Economist at The Conference Board
Without the authority to spend money, the United States federal government started the process of temporarily mothballing facilities and suspending the many services the government provides. However, the federal government does not stop functioning completely, and by law, certain agencies must operate with unsalaried employees. They include those that deal with national security and the safety of people and property.
The FCPA requires keeping books, records and accounts in reasonable detail that accurately and fairly reflect the transactions and dispositions of the company.
“Following moderate growth in the last few months, the U.S. LEI picked up in July, with widespread gains among its components. The pace of the LEI’s growth over the last six months has nearly doubled, pointing to a gradually strengthening expansion through the end of the year. In July, average workweek in manufacturing was the weakest component.”
– Ataman Ozyildirim Economist at the Conference Board