US leading indicators slip in August

Deutsche Presse Agentur
Published: Thursday September 21, 2006

Washington- An index of US leading economic indicators worsened in August for the second month in a row as consumer confidence slipped and housing construction fell, a research group said Thursday. The index lost 0.2 per cent, its fifth decline in the eight months, the private Conference Board said. But since some economic indicators tracked in the survey are improving, the overall US trend is more flat than declining, the group said.

"Economic growth should continue at a slow but steady pace in the near term," the Conference Board said.

The leading index is below its most recent high reached in January, but it was still 0.4 percent above its level of last August. Meanwhile, US economic growth slowed to a 2.5-per-cent annual pace in the second quarter from 5.6 per cent in the first quarter.

© 2006 DPA - Deutsche Presse-Agenteur