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Leading indicators slipped in June

July 19, 2012 at 11:22 AM   |   Comments

NEW YORK, July 19 (UPI) -- The U.S. index of leading economic indicators fell 0.3 percent in June to 95.6, the Conference Board said Thursday.

The Leading Economic Index has gained in seven of the last nine months, but dropped in two of the past three. It rose 0.4 percent in May and fell 0.1 percent in April.

Economists had predicted a 0.1 percent drop for June.

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 strengths among the leading indicators have become less widespread as consumer expectations and manufacturing new orders offset gains in the financial, labor, and construction-related components," said Conference Board economist Ataman Ozyildirim.

"Meanwhile, the coincident economic index, a measure of current economic conditions, has risen slowly but steadily in the last three months," he said in a statement.

© 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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