Gloomy outlook for economic indicators

The Conference Board's index of leading indicators, which gauges the economic outlook for the next three to six months, fell 0.1% in June. The New York-based Conference Board also revised the May figure down to a 0.2% decrease, from a 0.1% increase. Six of the 10 indicators were in negative territory: real money supply, stock prices, average weekly initial claims for unemployment insurance, average weekly manufacturing hours, the index of consumer expectations and manufacturers’ new orders for non-defense capital goods. On the other hand, data on building permits, the interest rate spread, the index of supplier deliveries and manufacturers’ new orders for consumer goods and materials were positive. For the first half of the year, the index fell 0.9%, according to the Conference Board. The coincident index, which measures current economic conditions, rose 0.1% in June, following a 0.1% decline in May.