The composite index of leading economic indicators slid 0.1% in June, the Conference Board reported yesterday.
LEI decreased a revised 0.2% in May compared to the originally reported 0.1% rise.
The coincident index was up 0.1% after a revised 0.1% decrease in May, originally reported as a 0.1% rise, while the lagging index was down 0.3% after a 0.2% slide in May, originally reported as a 0.2% increase.
The LEI stands at 101.7, the coincident index is 106.9, and the lagging index is at 111.5.
Economists polled by IFR Markets predicted LEI would be off 0.1% in the month.
“The domestic economy is showing no sign of strength,” said Conference Board labor economist Ken Goldstein. “The leading index started to signal slow growth last spring, and the coincident index has been flat to declining since last fall. The deep financial crisis, a prolonged, intense slump in housing, high gasoline and food prices, weak consumer confidence, and a weak dollar are all combining to produce unrelenting downward pressure on economic activity. This is also why it wouldn’t take much to push the economy so that it’s even weaker in the second half of 2008.”