Just when the party was getting good. According to yesterday's report from the Conference Board, their leading index of economic indicators fell in October, marking the fifth consecutive monthly decline. Not to worry, though.
...the recent declines in the leading index have not been large enough nor have they persisted for long enough to signal an end to the current economic expansion.
Furthermore,
The coincident index, an index of current economic activity, increased again in October and its growth continues to be widespread. At the same time, real GDP growth picked up slightly to a 3.7 percent annual rate in the third quarter from 3.3 percent in the second quarter.
So, party on? Well, maybe in moderation.
While the leading index is not yet signaling a downturn in the economy, the growth rate of the leading index has slowed below its long-term trend growth rate. This is consistent with real GDP continuing to grow in the near term, but more slowly than its long-term trend rate.