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The drop in the monthly Westpac Banking Corporation/Melbourne Institutes index of economic activity suggests slower growth toward the end of this year, economists said, despite surveys showing that business and consumer confidence remain strong.
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If this feckless Congress doesn't enact Pence-Cantor soon, the White House should be bold and institute indexing by executive order.
The institute's index declined to 49.5 from 51.7 a month earlier.
Analysts expected the institute's index to decline to 58 last month.
The Ifo institute's index of German business confidence declined for the 12th time in 13 months.
The institute's index for the service sector had its biggest increase in 15 months.
The IFO institute's index edged up to 107.7 points from 107.6 in August.
As with the institute's index, a reading below 50 indicates contraction.
The Ifo economic research institute's index of western German business confidence climbed to 91.5 from 90.5 in April.
The institute's index of businesses' expectations for the next six months also rose, to 90.9 in November from 89.6 in October.
One important difference between the two reports is the inclusion of construction jobs in the institute's index.
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