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The U.S. leading economic index edged down in March, The Conference Board reported today, suggesting continued but slow growth. The index slipped 0.1 percent to a reading of 94.7 (2004 = 100).
March’s decline follows three consecutive gains, including 0.5 percent increases in January and February.
“Data for March reflect an economy that has lost some steam. In addition to headwinds from government spending cuts, the private sector economy may struggle to maintain its momentum,” said Ken Goldstein, economist at The Conference Board. “The biggest challenge remains weak demand due to nervous consumer sentiment and slow income growth.”