US August leading economic index falls 0.5 pct
Jakarta, Financeroll.com – The index of leading U.S. economic indicators fell by a larger-than-expected 0.5 percent in August to 100.8, the lowest since 100.7 in October 2004, a private research group said on Thursday.
Analysts polled by Reuters had forecast the index, a key forecasting gauge, to drop only 0.2 percent in August after a 0.7 percent fall to a revised 101.3 reading in July.
In the last seven months, the index has risen only twice, a 0.1 percent rise in April and a revised 0.1 percent rise in June, signaling that the U.S. economy has been wobbling for most of 2008. The index has fallen 1.1 percent from February through August, the Conference Board said. (RTR/MDY)
