December Leading Economic Index slips 0.3 percent to 111.2
The US Leading Economic Index (LEI) declined 0.3 percent in December, driven by large negative contributions from rising unemployment insurance claims and a drop in housing permits. The LEI has now declined in four out of the last five months. Its six-month growth rate turned slightly more negative in the final quarter of 2019, with the manufacturing indicators pointing to continued weakness in the sector. However, financial conditions and consumers’ outlook for the economy remain positive, which should support growth of about 2 percent through early 2020.
FHFA House Price Index up 0.2 percent in December and 4.9 percent year-on-year
Federal Housing Finance Agency (FHFA) House Price Index (HPI): November U.S. house prices rose 0.2 percent from the previous month, and were up 4.9 percent year-on-year. The previously reported 0.2 percent increase for October 2019 was revised upward to 0.4 percent.