Leading Economic Indicators Decline

New York, NY, May 20, 2010--The index of leading economic indicators fell 0.1% unexpectedly in April in the first monthly decline since March 2009, the Conference Board said.

Analysts had expected a gain of 0.2%.

The economic recovery may "lose a little steam," though it will continue through the summer, the Conference Board.

While strengths among leading indicators have been widespread in recent months, the index's six-month growth rate has "moderated" since December, according to the Conference Board.

In April, four of the 10 leading indicators rose, with the largest positive contribution from the interest rate spread. The largest negative contribution came from building permits.

The four leading indicators that were positive included interest rate spread, stock prices, average weekly manufacturing hours, and manufacturers' new orders for nondefense capital goods.