The delayed index matches expectations for September with a decline of 0.3 percent while August was revised to show the same 0.3 percent dip versus the 0.5 percent drop previously reported.

The leading index has now falled by 2.1 percent over the last six months through September, worse than the 1.3 percent over the previous six months.

The biggest negative contributors to the index were consumer expectations, purchasing managers's new orders for manufactured goods, and manufacturers orders for consumer goods and materials. On the positive side were stock prices and the leading credit index.

The Conference Board said the LEI report included its own estimated building permits data because of the delay in release of official data from the Census Bureau.

The report points to slower growth in late 2025 and early 2026. The Conference Board view is that the economy remains"fragile and uneven" as businesses and consumers adjust to the tariff shock and a slowdown in consumer spending.

The index is seen down by another 0.3 percent in September after declining by a sharp 0.5 percent in August.

The index of leading economic indicators is a composite of 10 forward-looking components including building permits, new factory orders, and unemployment claims. The report attempts to predict general economic conditions six months out.

Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. By tracking economic data such as the index of leading indicators, investors will know what the economic backdrop is for the various markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly -- and causing potential inflationary pressures. The index of leading indicators is designed to predict turning points in the economy -- such as recessions and recoveries. More specifically, it was designed to lead the index of coincident indicators, also now published by The Conference Board. Investors like to see composite indexes because they tell an easy story, although they are not always as useful as they promise. The majority of the components of the leading indicators have been reported earlier in the month so that the composite index doesn't necessarily reveal new information about the economy. Bond investors tend to be less interested in this index than equity investors. Also, the non-financial media tends to give this index more press than it deserves.