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Not too merry: ‘Moderate growth’ seen for this holiday season
There’s likely to be moderate growth though the holiday season, as the economy slows down after a swift rebound in the second quarter, according to data released Friday.

A gauge of 10 indicators that aims to provide a guide for upcoming economic activity eked out a 0.2% gain last month, following 1.1% growth in July, the Conference Board, a New York-based membership and research group, said.

“The leading indicators point to an economy that is continuing to gain traction, but most likely won’t repeat its stellar second-quarter performance in the second half,” said Ken Goldstein, a Conference Board economist.

Real gross domestic product rose at a brisk annual rate of 4.2% in the second quarter, rebounding from a 2.1% contraction at the start of the year. Economists polled by MarketWatch expect annual growth of 3.1% in the third quarter and 3% at the end of 2014.

Earlier this week Federal Reserve officials said interest rates are likely to stay low for a “considerable time,” with Chairwoman Janet Yellen noting during a press conference that the labor market has yet to return to full health.

Among the 10 indicators that make up the Conference Board’s leading-economic gauge, only three made positive contributions in August, led by the interest rate spread. The other two positive contributions came from gauges of new orders and credit. There were four negative contributors, led by building permits and jobless claims. Meanwhile, three indicators were unchanged last month: manufacturing hours, orders for consumer goods and materials, and consumers’ expectations. http://blogs.marketwatch.com/capitolreport/2014/09/19/not-too-merry-moderate-growth-seen-for-this-holiday-season/