After rising for six consecutive months, the Conference Board's leading economic index unexpectedly showed a modest decrease in the month of April.
The Conference Board said Thursday its leading economic index edged down by 0.1 percent in April following a 0.3 percent increase in March. Economists had expected the index to inch up by 0.1 percent.
Ataman Ozyildirim, an economist at the Conference Board, said, "Falling housing permits, rising initial claims for unemployment insurance and subdued consumer expectations offset small gains in the remaining components."
by RTT Staff Writer
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