The U.S. Leading Economic Indicators index fell 0.5 percent last month to 137.3 points (1996 = 100) after declining 0.3 percent in January and rising 0.7 percent in December, the Conference Board reported today.
In the six months ended Feb. 28, the index rose 0.2 percent, as four of its 10 components expanded, the nonprofit business group said. Last month, five of the 10 fell: initial unemployment claims rose, consumer sentiment fell, new building permits declined and the delay in factory deliveries shrank.
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The February decline exceeded the 0.4-percent dip projected by economists in a Bloomberg News survey.
“It’s suggesting we’ll continue to have a period of slow to moderate growth,” Kevin Logan, chief economist at Dresdner Kleinwort in New York, told Bloomberg. “The softness in housing construction will persist for some time.”
The Conference Board produces the U.S. and other Consumer Confidence Index and the Leading Economic Indicators. Additional information is available at www.conference-board.org.
