US economic gauge weakens

0 Comments | AFP, February, 2008

WASHINGTON (AFP) — A key forward-looking US economic gauge posted a decline in January for a fourth straight month suggesting "weak growth" ahead for the world's largest economy, the Conference Board said Thursday.

The private research group said its index of Leading Economic Indicators fell 0.1 percent in January. Most economists had expected the economic barometer to post such a decline.

"The Leading Index declined for the fourth straight month," said Ken Goldstein, a labor economist at the Conference Board.

"The change in the Leading Index, including the duration, intensity, and dispersion across markets, suggests weak growth going forward," he said.

The Conference Board cited tumbling stock prices and declining demand for home-building permits as...