The Conference Board Leading Economic Index (LEI) fell by 0.7 percent in March to 100.5, continuing the declining trend seen in February, the think tank said in an April 21 statement.
LEI offers an early indication of where the economy is headed over the coming months.
Justyna Zabinska-La Monica, senior manager of business cycle indicators at The Conference Board, said the March decline “pointed to slowing economic activity ahead.”
For the six-month period ending in March, LEI contracted by 1.2 percent, which was a smaller decline compared to the 2.3 percent fall in the previous six months.
Three of the index’s components registered sizable declines last month—new orders in manufacturing, stock prices, which saw the biggest monthly fall since September 2022, and consumer expectations….