A leading US research body has said the US economy is 'losing steam', as it reported that the index of US leading economic indicators fell 0.3% in October, marking the fifth straight decline.
The string of decreases 'is a clear signal that the economy is losing steam and may start off 2005 with a relatively weak pace of economic activity,' said Conference Board economist Ken Goldstein.
The September leading index was revised lower to a 0.3% decline from a 0.1% drop previously. Seven of the 10 leading indicators fell in October, led by consumer expectations.
In the past six months, the leading index has dropped 0.7%, with three of the 10 indicators strengthening.
