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U.S. indicators edge lower
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December 27, 2000: 11:07 a.m. ET
Index of leading economic indicators dropped 0.2 percent last month
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NEW YORK (CNNfn) - In the latest sign of a slowing U.S. economy, the index of leading economic indicators fell 0.2 percent in November, in line with Wall Street forecasts, but still showing economic growth rather than recession in the new year.
The Conference Board, which publishes the index, put the new index at 105.3. It also revised the October and September readings for the index. The October decline is now 0.3 percent instead of the previous 0.2 percent, while September's number is now a 0.1 percent gain, rather than the previous reading of unchanged from August.
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"That is not a mark of any major contraction in business conditions. So the outlook remains one of slower growth."
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Ken Goldstein
Conference Board economist |
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"The Indicators are pointing to significantly slower growth in the first half of 2001," said a statement from Ken Goldstein, the Conference Board's economist. "The economy continues to cool off and there are now some job vacancies with no one to fill them. More recently, both businesses and consumers have become somewhat more cautious."
"Still, the index is only 0.4 percent lower than it was one year ago," he added. "That is not a mark of any major contraction in business conditions. So the outlook remains one of slower growth."
Still, the report is the just the latest statistic pointing to a slowdown in the United States after nearly 10 years of growth, the longest economic expansion in the nation's history. The index measures such factors as building permits, capital goods orders, average work week and consumer goods orders. The Conference Board is a not-for-profit industry group that is a leading private source of economic data. Its index of consumer confidence is due out Thursday.
Wednesday's report was a mixed bag -- three of the 10 measures, including capital goods orders and building permits, showed gains -- while five, including work week and consumer goods orders, showed a decline. The other two factors, money supply and treasury yield curve, were unchanged. 
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