Leading economic indicators rise again in September

A private forecast of economic activity rose for the sixth straight month in September, a sign the economy will keep growing next year. The Conference Board says its index of leading economic indicators rose 1% last month after a 0.4% gain in August. Wall Street economists expected an increase of 0.8% last month, according to a survey by Thomson Reuters. Economists expect the economy grew about 3% in the third quarter after falling for a record four straight quarters. But many wonder if that pace can continue in the current quarter and next year as unemployment rises and consumers remain hesitant to spend. The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain reluctant to hire even with the economy showing signs of recovery. The Labor Department says new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.