The Conference Board Leading Economic Index (LEI) for the United States was unchanged in September 2026 at 99.6, after a decline of 0.1 percent in August, the Conference Board said in a release on October 22.

Source: The Conference Board via PR Newswire — LEI Flat in September

The LEI grew by 0.6 percent between March and September 2026, a reversal from its decline of 1.1 percent over the previous six months, the release said.

99.6LEI in September 2026, unchanged
-0.1%LEI change in August
+0.6%LEI six-month growth, March–September
115.3Coincident Economic Index, up 0.3% in September

Justyna Zabinska-La Monica, Senior Manager for Business Cycle Indicators at the Conference Board, said five of ten LEI components made positive contributions in September, led by the interest rate spread and average weekly hours in manufacturing, while a large decline in consumer expectations and smaller negative contributions from stock prices, new orders for capital goods and building permits offset those gains.

Source: The Conference Board via PR Newswire (syndicated release)

Growth seen continuing, led more by business investment

Zabinska-La Monica said the LEI's six-month growth rate increased slightly, suggesting the economy is still growing and will continue to grow, but is becoming less dependent on consumer spending and more dependent on business investment. The Conference Board now expects real GDP to grow at a 2.2 percent annualised rate in 2026, with its outlook for 2027 at 2.0 percent, higher than previously forecast.

The Coincident Economic Index (CEI), which tracks current activity, increased by 0.3 percent in September to 115.3, following a 0.1 percent increase in August, and rose 0.9 percent over the six months between March and September. All four CEI components — payroll employment, personal income less transfer payments, manufacturing and trade sales, and industrial production — made positive contributions last month, the release said.