Leading Indicators Slip Again
Mon Sep 23,11:12 AM ET
story.news.yahoo.com
By BRAD FOSS, AP Business Writer
The following is an excerpt:
NEW YORK (AP) - A key gauge of U.S. economic activity fell for the third
straight month in August, declining more than experts had predicted.
The New York-based Conference Board
sites) on Monday reported its Index of Leading
Economic Indicators ( news - web sites) dropped 0.2
percent to 111.8, after falling a revised 0.1 percent in
July. Analysts had expected an August decline of 0.1
percent.
The index measures where the overall U.S. economy
is headed in the next three to six months. It stood at
100 in 1996, its base year.
Seven of the 10 indicators that make up the leading index declined in August,
including manufacturers' new orders for non-defense capital goods, building
permits and the index of consumer expectations, the Conference Board said.
Conference Board economist Ken Goldstein said the data showed the nation's
"weak recovery could stall, especially if the consumer market starts to slow."
"There is now the threat of a slowdown," Goldstein added, "because unlike in
June or July, the latest decline was widely diffused - only one of the 10
components had a significant positive contribution."
story.news.yahoo.com
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