WASHINGTON (AP) — A measure of future U.S. economic activity fell in April after six months of increases. The drop reflected weakness in housing and hiring.
The Conference Board says its index of leading economic indicators declined 0.1 percent in April from March.
The index now stands at 95.5. That’s down slightly from a March reading of 95.6, which had been the highest level since mid-2008. Before the recession began in December 2007, the index routinely topped 100.
Conference Board economist Ken Goldstein says the April setback reflected an economy that is still struggling to gain momentum.