A private research group says its gauge of future economic activity dropped in June, the second decline in past 3 months, suggesting the U.S. economic recovery will weaken.
The Conference Board says its index of leading economic indicators fell 0.2 percent last month. Economists polled by Thomson Reuters had expected a drop of 0.3 percent.
The index was revised to a 0.5 percent increase in May from the initial report of a 0.4 percent gain. The April report was revised to a 0.1 percent drop from a prior estimate of no change.
The leading indicators gauge had risen almost every month since April 2009 as the economy rebounded from recession.
But weakness in the housing sector, faltering consumer spending and high unemployment have raised fears about a big slowdown in growth.
© AFP 2021