Index of Leading Economic Indicators Falls for Fifth Month
he Conference Board said Thursday its index of leading economic indicators fell 0.3% in October, the fifth consecutive decline.
October’s decline followed a revised 0.3% decrease in September. The fifth straight drop in the index is the longest string of declines since 1995, the board said.
he decline “is a clear signal that the economy is losing steam, and may start off 2005 with a relatively weak pace of economic activity,” Conference Board economist Ken Goldstein said in a statement.
Despite October’s overall decline, the index of coincident indicators, a gauge of current economic activity, rose 0.3% in October following a 0.1% increase the previous month. The index tracks payrolls, incomes, sales and production.
In addition, the index of lagging indicators rose 0.2% last month, compared with a 0.1% increase in September.