Leading Economic Indicator Dips for Second Month
The Confernce Board’s Index of Leading Economic Indicators dipped for the second month in a row. The March index was 0.1% lower, and this follows a 0.5% decline in February.
April 20 (Bloomberg) — An index of U.S. leading indicators fell for a second month in March, supporting forecasts the pace of economic growth will slow in coming months.
The Conference Board’s index declined 0.1 percent after dropping a revised 0.5 percent in February, the New York-based group said today. The two-month drop was the first since February-March 2001.
The prediction though is that growth will “moderate to a ‘sustainable’ pace” for the rest of the year.
James Hamilton notes that there is also a decline in the University of Michigan’s Consumer Sentiment index, and is concerned. He notes that the April retail sales figure is still going up and that mitigates some of this bad news. Still the $2.93/gallon gas (nationally) could still cause some problems for continued economic growth.