Conference Board biz index down again

The Conference Board’s index of leading indicators that gauges future business activity fell 0.3% in February, the fifth straight month of decline. Four of the 10 indicators were in negative territory including weekly initial claims for unemployment insurance, building permits, vendor performance and index of consumer expectations. The leading positive indicators from the index compiled by the New York-based business membership and research network included real money supply, interest rate spread and manufacturers’ new orders. The leading index has declined 1.5% since last August. The last time the leading index declined five straight months was in 2001.