Chart of the Week: Leading Indicators Trend Downwards

Leading Economic Indicators increased m/m 0.1% in February
after negative numbers in January, October, September, August, and July. Since
these are leading indicators, they point to a slowing beginning starting around
February. Half of the 10 index components were up this month. which compares to
3 in January, 5 in December, 7 in November, 2 in October, 4 in September, 4 in
August, and 3 in July.

Leading Indicators Trend Downwards
click for larger chart
Lei_march_05

Source: MFR

Prior economic forecasts by Wall Street have been as high as
4.5-5% (annualized real GDP growth). The recent LEI point to weak GDP growth.

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"Not the maker of plans and promises, but rather the one who offers
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~Johann Wolfgang Von Goethe (1749-1832)

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