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US Conf. Board leading indicator falls 0.8 pct in Oct
EMBARGOED 1000 AM
WASHINGTON, Nov 20 (Reuters) - The U.S. Conference Board's index of Leading Economic Indicators fell more than expected in October, as stock prices dropped and consumer expectations weakened, the research group said on Thursday.
The index fell 0.8 percent to 99.6 after rising by a revised 0.1 percent in September.
"The economy is contracting, and the pace of contraction may intensify over the next few months," said Ken Goldstein, economist at the Conference Board.
Wall Street analysts had expected the leading index, a gauge of future economic conditions, to fall 0.6 percent.
(Reporting by Lucia Mutikani;)
