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Economic Index slips sharply in February

23
Mar '07
Conference Board reports that the Composite Index of Leading Economic Indicators declined 0.5 percent in February, following a 0.3 percent decline in January, and a 0.7 percent increase in December.

Says Ken Goldstein, Labor Economist at The Conference Board: "The Leading Economic Index slipped sharply in February. Despite declines in both January and February, the cumulative change over the past six months remains positive."

"The housing and manufacturing sectors are clearly going through a correction, but the consumer sector appears to be holding up. That mix should generate moderate but choppy growth ahead. Overall, the consumer has shown remarkable resiliency in the face of wide swings in energy prices, a slowing in home prices, and a sharp cooling off in home building."

The Conference Board reports that the Coincident Index increased 0.3 percent in February, following a 0.1 percent decline in January, and a 0.3 percent rise in December. The Lagging Index increased 0.2 percent in February, following no change in January, and a 0.7 percent increase in December.

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The Conference Board


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