Slump in Composite Index of Leading Economic Indicators
18 May '07
1 min read
The Conference Board reports that the Composite Index of Leading Economic Indicators declined 0.5 percent in April, following a 0.6 percent increase in March, and a 0.6 percent decline in February.
Says Ken Goldstein, Labor Economist at The Conference Board: “While the Coincident Index continues to rise, the Leading Index is beginning to turn down. Only two of the ten components made a positive contribution to the Leading Index in April. Its cumulative change over the last six months has turned negative."
"The data may be pointing to slower economic conditions this summer. With the industrial core of the economy already slow, and housing mired in a continued slump, there are some signs that these weaknesses may be beginning to soften both consumer spending and hiring this summer.”
The Conference Board reports that the Coincident Index increased 0.2 percent in April, following a 0.1 percent increase in March, and a 0.2 percent rise in February. The Lagging Index increased 0.2 percent in April, following no change in March, and a 0.2 percent increase in February.