Data on Economy Are Mixed

A gauge of future economic activity rose in September for the first time in three months while mid-Atlantic region manufacturing slipped for a second month in October, offering a mixed outlook for the economy.

Economists said Thursday’s data, combined with a drop in weekly claims for jobless benefits, suggested that the economy would continue to grow at a slow pace in coming months and allow the Federal Reserve to hold interest rates steady at its policy meeting next week.

The Conference Board, a private business-backed research group, said its index of leading economic indicators gained 0.1% in September to 137.7 after falling 0.2% in August. Analysts had forecast a 0.3% rise.

Analysts said higher stocks and lower gasoline prices probably helped boost the index. Five of the 10 measures of activity captured by the index contributed to the September gain, led by consumer expectations, money supply and stock prices.

In a separate report, the Labor Department said first-time claims for state unemployment insurance fell 10,000 last week to 299,000 from a revised 309,000.

The level was below Wall Street forecasts of a rise to 312,000 new claims.