Iowa Leading Indicators Index decreases in October
The Iowa Leading Indicators Index decreased 0.2 percent to 108.2 in October, its first decline in the past six months, the Iowa Department of Revenue announced. The index, made up of eight leading indicators, had experienced five consecutive months of no change, remaining at 108.3 in April through August before an increase in September and decreasing in October. With four of the eight components contributing positively, the monthly diffusion index decreased to 50.0 in October from 56.3 in September. The six-month diffusion index decreased to 37.5 in October from 56.3 in September. Iowa’s non-farm employment index has experienced 12 consecutive months of positive growth. However, the negative annualized six-month index value and lower six-month diffusion index suggest that employment growth may wane during the winter or early spring.