NEW YORK (CNNMoney.com) - The index of leading economic indicators fell for the first time in five months in February but the outlook for growth remains solid, a business research group said Monday.

The index, meant to predict the economy's performance in coming months, fell 0.2 percent last month to 139.0, the New York-based Conference Board said in a statement.

But the reading "still suggests that the sluggish growth in the fourth quarter [2005] should not persist, and economic growth is likely to pick up in the near term," the group said.

Economic activity grew in February and the strength of recent months remains "widespread," the group said.

Five of 10 components in the leading indicators index weakened in February: consumer expectations, vendor performance, building permits, stock prices, and average weekly initial claims for unemployment insurance.

Among the positive indicators: manufacturers' new orders went up, while the money supply, average weekly manufacturing hours and manufacturers' new orders for consumer goods remained healthy.

-----------------------

Buffett predicts dollar stumble.