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Leading economic indicator declines 0.3%

21
Mar '08
The Conference Board reports today that the Composite Index of Leading Economic Indicators declined 0.3 percent in February, following a 0.4 percent decline in January, and a 0.1 percent decline in December. The Leading Index has declined for the fifth straight month.

Says Ken Goldstein, Labor Economist at The Conference Board: “The economy may be grinding to a halt. The Leading Index has declined five months in a row, and the Coincident Index stopped increasing in October. Growth will be weak this spring. A small contraction in economic activity cannot be ruled out. The economic signals are flashing yellow.”

The Conference Board reports that the Coincident Index was unchanged in February, following two straight months of no change and a 0.2 percent decline in November. The Lagging Index increased 0.2 percent in February, following a 0.1 percent increase in January, and a 0.3 percent increase in December.


The leading index has declined 1.5 percent (about a 3.0 percent annual rate) during the six-month span from August 2007 through February 2008. In addition, only two components out of ten have increased from August to February.


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