Economic Indicators Fall For Third Month in Row

New York, NY, January 18, 2008—The Index of Leading Economic Indicators, a gauge of future economic activity, fell 0.2 percent in December, for its third consecutive monthly decline.

The Conference Board said that its index fell to 136.5 last month after falling 0.4 percent to 136.8 in November and 0.7 percent to 137.3 in October.

The index is considered an indicator direction of the economy in the next three to six months.

"The latest data suggest that growth could remain slow -- and possibly be even a little slower -- in the first half of 2008," said Ken Goldstein, labor economist at the Conference Board, in a press release.

Some economists believe that the economy is already in a recession, due mostly to credit issues and the housing market. President Bush and Federal Reserve Chairman Ben Bernanke have both backed economic stimulus measures.

Building permits and average manufacturing working hours were the main drags on the index