Leading economic indicators index ticks down
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 22 January 2024
⏱️ 1 minutes
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Summary
Stocks close higher; index declines at slower pace; fourth quarter GDP expected to decline from prior quarter; PCE data due on Friday.
Transcript
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| 0:00.0 | This is the Marketplace Minute. |
| 0:03.0 | I'm Justin Ho. |
| 0:04.5 | Stocks closed up on Monday. |
| 0:06.5 | The Dow and the NASDAQ gained about a third of a percent, and the S&P rose two-tenths percent. |
| 0:11.9 | An index of leading economic indicators ticked down in December, |
| 0:15.3 | according to the conference board. It says that was mostly because of weak conditions and |
| 0:18.9 | manufacturing, along with high interest rates and low consumer confidence. |
| 0:23.3 | The conference board says that's a sign that the economy could contract in the middle of the year. |
| 0:27.4 | That said, the index has been declining at a slower pace, and consumer confidence has been picking |
| 0:32.2 | up more recently. |
| 0:33.0 | Later this week the Commerce Department will put out its first estimate of GDP for the fourth quarter of last year. |
| 0:39.0 | Economists expect that the economy grew at a slower pace than it did in the third. |
| 0:43.0 | We'll also get a sense of how much consumer spent in December when the Commerce |
| 0:47.3 | Department's Personal Consumption Expenditures Index comes out on Friday. |
| 0:50.5 | That'll tell us how much prices rose too. I'm Justin Ho with the Marketplace Minute. You're going to. |
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