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Economic Indicators rise

Tuesday, Nov. 20, 2001 | 9:56 a.m.

NEW YORK -- An important gauge of future U.S. economic activity rose 0.3 percent in October, but still suggested that the Sept. 11 terrorist attacks would remain a drag on the economy.

The New York-based Conference Board said today its Index of Leading Economic Indicators edged up to 109.4 in October, following a 0.5 percent decline in September and a 0.1 percent drop in August.

The index indicates where the overall U.S. economy is headed in the next three to six months. It stood at 100 in 1996, its base year. Analysts were expecting no change.

Economists said the housing and labor sectors, two components of the index, continued to struggle in October. But that weakness was offset by a recent rise in stock prices and the Federal Reserve's interest rate cutting campaign.

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