Thomas L. Gallagher | Mar 19, 2009 1:25PM EDT
The recession that began in December 2007 shows no signs of letting up in the near term, according to composite economic indexes compiled by business research group The Conference Board.
Although six of the ten indicators that make up The Conference Board Leading Economic Index for the United States increased in February, the other four fell far enough to bring the index down 0.4 percent to 98.5 and its companion Coincident Index now stands at 102.5, also down 0.4 percent from the previous month.
Amid widespread deterioration, the leading index continued the general downward trend that began in July 2007, said the Conference Board in a report released March 19. But, its rate of decline has moderated slightly in recent months.
The coincident index, on a downward trend since November 2007, has accelerated in recent months. This index of current economic activity dropped 3.1 percent in the last six months, a much larger fall than the decrease of 0.9 percent for the previous six months. The six-month decline in the CEI is the largest since 1975. The weaknesses among its components have remained widespread in recent months, the Conference Board said.
