The Conference Board's index of leading economic indicators, released Thursday, signaled economic weakness with a 0.3 percent decline in June, more than the 0.1 percent analysts were expecting. The index had risen 0.2 percent in May after dropping 0.2 percent in April.
The report is designed to forecast economic activity over the next three to six months and is based on tracking 10 economic indicators. The in June decline was due to a drop in building permits as well as unemployment claims, consumer expectations, vendor performance and interest rate spread. Housing decline is considered one of the primary reasons for the sluggish expectations...
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