Leading index down, Conference Board says
Published: March 20, 2008 at 4:22 PM
WASHINGTON, March 20 (UPI) -- The Conference Board's leading index for the U.S. economy saw a fifth consecutive month of declines, the board announced Thursday.
The leading index, down 0.3 percent in February, has declined 1.5 percent in the past six months, registering an annual rate of 3 percent, the Conference Board said.
Four of the 10 indicators that figure in to the leading index were up in February. The real money supply increased, as did the interest rate spread and manufacturers' new orders for capital goods, excluding defense orders. New orders for consumer goods and materials also increased.
But declines were noted in average weekly initial claims for unemployment, building permits, vendor performance, consumer expectations and stock prices.
Average weekly manufacturing hours were unchanged, the Conference Board said.
The leading index, down 0.3 percent in February, has declined 1.5 percent in the past six months, registering an annual rate of 3 percent, the Conference Board said.
Four of the 10 indicators that figure in to the leading index were up in February. The real money supply increased, as did the interest rate spread and manufacturers' new orders for capital goods, excluding defense orders. New orders for consumer goods and materials also increased.
But declines were noted in average weekly initial claims for unemployment, building permits, vendor performance, consumer expectations and stock prices.
Average weekly manufacturing hours were unchanged, the Conference Board said.
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This material may not be reproduced, redistributed, or manipulated in any form.
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