Leading indicators, unemployment report show weakness
May as well add this one to the pile, too. Yet, the AP says, we’ve hit bottom? Great. What about the fact that it looks like we’ll be staying there?
A key measure of economic activity declined in August for the second time in three months, suggesting the economy remains weak.
The Conference Board says its index of leading indicators, designed to forecast future economic activity, dipped 0.1% in August after rising 0.5% in July and dropping 0.5% in June.
The weakness in August came from declines in manufacturing orders, consumer confidence and average weekly manufacturing hours. Conference Board economist Ken Goldstein says the index depicts an economy still facing significant domestic and international weakness.