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July leading index plummets 0.7 percent: Conf. Board

WASHINGTON
Thu Aug 21, 2008 10:07am EDT

WASHINGTON (Reuters) - The Conference Board's index of leading U.S. economic indicators plummeted 0.7 percent in July to 101.2, the lowest level since 100.7 in October 2004, the private research group said on Thursday.

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Analysts polled by Reuters had expected the index, a key forecasting gauge, to drop only 0.2 percent.

In the last six months the index has only risen once, by 0.1 percent in April, in a sign that the U.S. economy has been wobbling for most of 2008. The index has fallen 0.9 percent over the last six months, the board said.

The coincident index, a measure of current economic conditions, rose 0.1 percent in July, while the lagging index shot up 0.4 percent.

(Reporting by Lisa Lambert; Editing by Neil Stempleman)
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