Typically, they are very good at predicting economic activity 3 - 6 months out. In the last few months, economists and market pundits have been calling for a re-acceleration in economic activity. With the recent numbers out this morning, we are sure that some will be back at the chalkboard for revision.
The Conference Board’s index of leading economic indicators, released Thursday, signaled economic weakness with a 0.3% decline in June. This was more than the 0.1% analysts were expecting. The index had risen 0.2% in May after dropping 0.2% in April. -APwire