Leading Indicators Show Economy Still Slowing

Washington, DC, March 20, 2008-- The index of leading economic indicators, which forecast economic growth six to nine months ahead, fell 0.3 percent in February for a fifth consecutive decline, according to the Conference Board, which may signal that the U.S. economy is sputtering to a halt.

"Growth will be weak this spring," said Ken Goldstein, labor economist for the Conference Board.

The last time the index fell for five straight months was in early 2001, at the beginning of the last recession.

The January index was also revised lower to a 0.4 percent decline from a 0.1 percent decline.

Five of the 10 leading indicators fell in February, including jobless claims, building permits, delivery times, consumer expectations, and stock prices. The four that rose included real money supply, interest rate spreads, orders for capital goods and orders for consumer goods. The factory workweek was unchanged.