The index of U.S. leading indicators fell less than expected in February, posting a 0.4% month-over-month decline, according to the Conference Board.
The consensus had forecast a 0.6% decline. January's increase was revised down to 0.1% from 0.4%.
Over the past six months, the leading index has fallen 4.1%.
The leading index saw positive contributions from consumer goods orders, orders of non-defence capital goods, pace of deliveries and building permits. Consumer goods orders posted a 0.02% gain, while orders of non-defence capital goods also increased 0.02%. Building permits were up 0.08%.
The average work week fell 0.13% from the prior month, while jobless claims fell 0.30%.
The coincident index, which measures what is currently happening in the economy, fell 0.4% in February after posting a 0.6% loss in the prior month. Over the past six months, the coincident index has fallen 6.1%.
The lagging index, which looks backwards at where the economy has been, fell 0.4% in February following the prior month's 0.3% decline.
By Stephen Huebl and edited by Sarah Sussman
©CEP News Ltd. 2009