November 20, 2008
Leading Index Posts Sharp October Decline
By Matthew L. Brown
The Conference Board's Leading Index suffered a sharp 0.8 percent decline in October, dragged down by plummeting stock prices, building permits and consumer expectations.
Those factors weighed the index down despite positive contributions in real money supply and the interest rate spread, the board said. Without those positive contributions, the October index would've looked much worse, the board said.
The index's decline has accelerated to 2.4 percent per month since April compared to a 1.2 percent rate of decline in the previous six months, the board said.
The Conference Board is a nonprofit organization based in Washington, D.C.
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