The composite index of leading economic indicators fell 0.4% in November, the Conference Board reported yesterday.
LEI decreased a revised 0.9% in October, after originally being reported as a 0.8% decrease.
The coincident index slid 0.3% after a 0.3% rise in October, originally reported as a 0.2% gain, while the lagging index rose 0.1% after a flat October, originally reported as a 0.1% increase.
The LEI stands at 99.0, the coincident index is 104.9 and the lagging index is at 113.7.
Economists polled by Thomson Reuters predicted LEI would be off 0.5% in the month.
“The economy has been in recession for a year and the latest indicator data show no sign of improvement in the first months of 2009,” according to board labor economist Ken Goldstein. “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.”