The composite index of leading economic indicators fell 0.1% in April, the first decline in more than a year, the Conference Board reported yesterday.
Economists had expected the LEI to increase 0.2% for the month, according to the median estimate from Thomson Reuters. It was the first decline since February 2009. The March LEI was revised lower to a 1.3% gain from 1.4% reported last month.
The LEI stands at 109.3. The coincident index increased 0.3% to 100.6 and the lagging index increased 0.1% to 108.2.
“These latest results suggest a recovery that will continue though the summer, although it could lose a little steam,” said Conference Board economist Ken Goldstein. The LEI’s growth rate “has moderated since December,” he said.
