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"The economy looks to be getting better despite the continued drumbeat of negativity in financial markets"
- Joseph LaVorgna, chief economist at Deutsche Bank Securities Inc.
The composite index of U.S. leading indicators rose more than expected in October, said the Conference Board Inc. on Friday. The index gained 0.9 per cent from September, easing worries the largest economy in the world may slide into recession.
"The [index] is pointing to continued growth this winter, possibly even gaining a little momentum by spring," said Ken Goldstein, an economist at the Conference Board, which published the index on Friday.
"The economy looks to be getting better despite the continued drumbeat of negativity in financial markets," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York. "That speaks to U.S. resiliency. If we can put some of these fiscal issues behind us, even for a short period of time, we might be able to come back."