Economic Indicators still dropping
December 18, 2008,
New York – The Conference Board reported that its Composite Index of Leading Economic Indicators declined 0.4% in November, following a 0.9% decline in October, and no change in September.
Goldstein added, “An intense housing downturn that’s about to begin its fourth year and a severe financial crisis with nearly frozen credit markets have sharply lowered consumer and business expectations.”
Of two key components, the Coincident Index fell 0.3% in November, after a 0.3 % increase in October, and a substantial 1.0% decline in September.
The Lagging Economic Index edged up by 0.1% in November, following no change in October, and a 0.6% rise in September.
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