The Detroit News. The Index of Leading Economic Indicators declined by 0.1 percent in July to 105.8, suggesting a break from rapid economic growth for the rest of 2000, according to the New York-based Conference Board. The index, which attempts to forecast economic trends for the next three to six months, stood at 100 in 1996, its base year. With employment and income still rising, there will be growth, but not at the pace set earlier in the year. The numbers come barely a week after the Federal Reserve passed on a chance to raise interest rates.
Conflicting data exist on how much the economy has cooled down, however.
The markets were mixed following the release of the report. The Dow Jones industrial average was off 112 to 11,103.