MW: Feb. leading indicators fall; weakness to persist near term
The recession will continue in the near term, and a return to strong growth is unlikely until next year, the Conference Board said Thursday. The index of leading economic indicators fell 0.4% in February, following a downwardly revised gain of 0.1% in January. The interest rate spread was the largest positive contributor in February, while initial claims for unemployment insurance were the largest negative contributor. "Strengths and weaknesses were roughly balanced" in the index, said Ken Goldstein, economist at the Conference Board. "Financial market volatility remains strong, and the credit market freeze is relenting very slowly."
