Leading Indicators Project Accelerating US Growth

- Leading Indicators for October rose .2% versus estimates of a .2% increase and an upwardly revised .4% gain in September.

BOTTOM LINE: An index of leading US economic indicators rose in October, driven by growing optimism among consumers and gains in stock prices, Bloomberg said. Consumer expectations jumped to a 15-month high in the latest Univ. of Mich. Consumer Confidence report and the S&P 500 has surged 15.6% from June lows. I expect 4Q US GDP growth to rise more than estimates of 2.5% as the deflator subtracts less from growth than most expect. Growth of around 3% is likely.