In yet another reminder that America’s economic recovery is likely to be protracted, the barometer of leading economic indicators from the Conference Board slipped 0.4% in April, worse than expected and the first fall since a 0.6% decline in September.
The drop in the index, which gauges growth prospects for the next three to six months, follows a 0.1% rise in March. Meanwhile, the Board’s coincident index, which measures current economic trends, rose 0.2% last month after a 0.1% rise in March.
“The signal from the indicators is that the recovery is developing quite slowly,” Conference Board chief economist Ken Goldstein declared. “Despite the strong growth in gross domestic product in the first quarter, the recovery in the industrial core remains weak.”
Data sourced from: New York Times; additional content by WARC staff