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Leading economic indicators dipped in April

May 17, 2012 at 11:00 AM   |   Comments

NEW YORK, May 17 (UPI) -- The U.S. index of leading economic indicators fell 0.1 percent in April after six consecutive month of gains, the Conference Board said Thursday.

The Leading Economic Index fell to 95.5, following an increase of 0.3 percent in March and a 0.7 percent increase in February.

Economists had predicted a 0.1 percent gain.

The Leading Economic Index, which takes into account 10 economic components, is essentially a comparison with 2004, the year the Conference Board assigned a level of 100.

The declines in April "reflect an economy that's still struggling to gain momentum. Growth is slow, but choppy, and consumers, executives and investors are looking for more progress," said Conference Board economist Ken Goldstein.

The Conference Board said their Coincident Index, which measures current conditions, rose 0.2 percent in April to 104.3, following increases of 0.3 percent and 0.2 percent in March and February, respectively.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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