LEI Points Down

July 21, 2008 8:56:48 AM PDT
A forward-looking gauge of economic activity is pointing down. The Conference Board's Index of Leading Economic Indicators fell 0.1 percent in June. Not only that, but its May figure was revised to reflect a decline, instead of slight growth.

Among the negatives pressuring the business research group's index, reduced hours for factory workers and falling stock prices.

Says Conference Board economist Ken Goldstein, "the domestic economy is showing no sign of strength."