-- The Conference Board's measure of leading indicators fell by 0.6% in March, below expectations for a 0.2% decrease in a survey compiled by Bloomberg and following a 0.3% increase in February.
There were negative contributions from five of the 10 components, particularly building permits, business conditions expectations and stock prices. There were smaller positive contributions from the other five components, particularly nondefense capital goods new orders.
"After rising in February, the US LEI pulled back sharply in March, as building permits declined and consumer expectations and stock prices weakened," said Justyna Zabinska-La Monica, Senior Manager of Business Cycle Indicators at The Conference Board. "The LEI continues to signal a slowdown in the economy over the coming months, as higher oil prices and supply chain tensions will likely place additional upward pressure on inflation and further reduce consumers' purchasing power."