Leading Economic Indicators Decline in September

he index of U.S. leading economic indicators fell in September for a third straight month on aftereffects of Hurricane Katrina and continued high fuel costs, the Conference Board reported Thursday.

The LEI index fell 0.7% following a 0.1% decline in August.

The decline was greater than the 0.5% drop that was forecast by economists, Bloomberg reported.

Consumer expectations and the number of first-time jobless claims were the biggest drags on the index, the board said.

Continued record fuel costs in September curbed the consumer spending that makes up 70% of the U.S. economy, it said.