A gauge of future U.S. economic activity fell in April for the first time in seven months, according to an industry survey today that indicated a struggling economic recovery.
The Conference Board's Leading Economic Index decreased 0.1 percent to 95.5, the first drop in the monthly index since September 2011. The index rose 0.3 percent in March.
Economists polled by Reuters had expected the index to increase 0.1 percent.
"The indicators reflect an economy that's still struggling to gain momentum," said Ken Goldstein, an economist at the Conference Board. "Growth is slow, but choppy, and consumers, executives and investors are looking for more progress."
Employment growth slowed in April, with employers adding 115,000 new jobs to their payrolls, the smallest amount in six months. (C ) Reuters