The nation's economy is more likely to experience additional economic weakness and slowing growth in the months ahead, according to data released by the Conference Board Friday.The Index of Leading Economic Indicators declined again in December 2007, down 0.2%, worse than the 0.1% decline estimate, the Conference Board announced Friday in a statement (pdf). The index dropped 0.4% in November 2007.
Declines in 4 of 6 months
It was the third consecutive decline for the leading index, which has also dropped in four of the last six months.
The largest negative contributors to the index in December 2007 were housing permits, average working hours in manufacturing, new orders for non-defense capital goods, initial unemployment claims, and consumer expectations.
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