U.S. January leading indicators fall 0.3% -
Thursday, February 17, 2005 3:52:04 PM
afxpress.com
WASHINGTON (AFX) -- Momentum in the U.S. economy slowed in January, the Conference Board reported Thursday. The board's index of leading economic indicators fell 0.3 percent, while the coincident index was unchanged
Economists expected the leading index to fall 0.2 percent, according to a survey conducted by MarketWatch. The leading index increased an upwardly revised 0.3 percent in December
Four of the 10 leading indicators advanced in January, led by the factory workweek, money supply, building permits and new orders for core capital goods. Five of the indicators declined, led by supplier deliveries, consumer expectations, stock prices, interest rates and new orders for consumer goods. Jobless claims were unchanged. "The picture at the start of 2005 is positive, but more spotty than robust," said Ken Goldstein, economist for the Conference Board, an independent business-research group. While oil prices and the weaker dollar have taken "some steam out of the recovery," he said. "But the larger concern remains cautious attitudes." In other reports released Thursday, the Labor Department said first-time jobless claims fell to a 4-year low of 302,000 last week. Also, import prices rose 0.9 percent in January, led by a 4.6 percent rise in petroleum prices. |
