Tags: Leading | Economic | Indicator | growth

Measure of Future Economic Activity Slips, Hints of Slower Growth

Thursday, 19 July 2012 10:17 AM

A gauge of future U.S. economic activity fell more than expected in June, pointing to slower economic growth.

The Conference Board said on Thursday its Leading Economic Index dropped 0.3 percent to 95.6 after rising 0.4 percent in May, and worse than economists' expectations for a 0.1 percent dip.

Downbeat consumer expectations and weak manufacturing orders offset gains in construction and the average workweek.

"The LEI is pointing to no strengthening (in economic growth) over the next few months as the economy continues to sail through strong headwinds domestically and internationally," said Ken Goldstein an economist at the Conference Board.

The recovery has lost steam in recent months, with job growth slowing sharply and retail sales contracting. Factory activity, which has been one of the key pillars of the recovery, is also cooling.

© 2021 Thomson/Reuters. All rights reserved.

1Like our page
Thursday, 19 July 2012 10:17 AM
Newsmax Media, Inc.
Newsmax TV Live

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved