Leading Economic Indicators Decline in September

October 20, 2005 10:15 AM, EDT

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he index of U.S. leading economic indicators fell in September for a third straight month on aftereffects of Hurricane Katrina and continued high fuel costs, the Conference Board reported Thursday.

The LEI index fell 0.7% following a 0.1% decline in August.

The decline was greater than the 0.5% drop that was forecast by economists, Bloomberg reported.

The LEI index is closely watched by trucking companies because it forecasts business activity for the next three to six months.

Consumer expectations and the number of first-time jobless claims were the biggest drags on the index, the board said.

Continued record fuel costs in September curbed the consumer spending that makes up 70% of the U.S. economy, it said.

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