USA: index of leading indicators falls in April
The precursor index dropped by 0.6% to 101.8 last month, after having already fallen by 0.3% in March, whereas analysts were expecting a more limited decline of around 0.3%.
ConfBoard explains the deterioration in the index by the worsening of consumer sentiment, weak business order intake and a drop in building permits, as well as the stock market correction in April.
The trade organization thus predicts a slowdown in US economic growth, which it expects to fall below 1% in the third quarter compared to the second.
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