Consumers facing debt consolidation and hoping for a continued economic recovery into the summer may be disappointed by new data released by the Conference Board on Thursday.
According to the board’s latest information, their Leading Economic Index underwent a 0.1 percent increase throughout February.
The largest contributors to the increase being boosts in the spread of interest rates, real money supply, the index of supplier deliveries, and manufacturers’ new orders for consumer goods and materials.
Negative contributors to the index – which despite the increase, grew a lower rate than the 0.3 and 1.2 percent boosts seen the last two month – were declines in average weekly hours in manufacturing and stock prices.
With the rate increase in decline, the index indicated that the 11 consecutive months in which a rise has been seen may be in jeopardy and spell a slowed recovery on the horizon.
"The indicators point to a slow recovery this summer. Going forward, the big question remains the strength of demand, Ken Goldstein, an economist at The Conference Board. "Without increased consumer demand, job growth will likely be minimal over the next few months. "