Economy - Friday

• Investor's Business Daily
• On 7:00 pm EST, Friday November 6, 2009

Leading indicators show growth

The Economic Cycle Research Institute's leading U.S. index rose a half-point 15 128.8 in the week to Oct. 30. Its annual growth rate fell 0.6 point 15 still-high 26.3%. "While (weekly leading index) growth has backed off from a record high, its continued strength promises a stronger U.S. economic recovery than most anticipate," ECRI head Lakshman Achuthan said.

Wholesale inventories fell 0.9% in Sept., a record 13th straight monthly decline. But sales rose for a 6th straight month, raising hopes that factories will soon have to boost production. The stock-to-shipments ratio fell to 1.18 -- the lowest in a year. OECD: global economy rising

The Organization for Economic Cooperation and Development's composite leading indicator for its 29 members rose 1.3 points in Sept. to 100.6. "A recovery is clearly visible in the United States, Japan and all other OECD economies and major non-OECD economies," it said.

German manufacturing orders rose 0.9% in Sept., the seventh straight gain, as rising foreign demand outweighed weakness at home, the gov't said. Canada unexpectedly lost 43,200 jobs in Oct. after 2 months of gains, Statistics Canada said, pushing the jobless rate up 0.2 point 15 8.6% and dimming hopes for a rapid economic recovery. China to maintain stimulus

Beijing will also try to keep the yuan from rising sharply, central bank adviser Fan Gang told Reuters. "Overall, polices are still loose. Any adjustment in policies will depend on economic conditions," Fan said, adding that the recovery appears solid and that GDP next year will grow 8%.

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