Economic Indicators Still Dropping

By Staff -- Home Textiles Today, 1/12/2009 12:00:00 AM

New York —

The Conference Board reported late last month that its Composite Index of Leading Economic Indicators declined 0.4% in November, following a 0.9% decline in October, and no change in September.

Conference Board economist Ken Goldstein said, "The economy has been in recession for a year and the latest indicator data show no sign of improvement in the first months of 2009."

Goldstein added, "An intense housing downturn that's about to begin its fourth year and a severe financial crisis with nearly frozen credit markets have sharply lowered consumer and business expectations."

Of two key components, the Coincident Index fell 0.3% in November, after a 0.3 % increase in October, and a substantial 1.0% decline in September. The Lagging Economic Index edged up by 0.1% in November, following no change in October, and a 0.6% rise in September.