More bad news for Obama and the Dems.  More evidence that their policies 
are failures...

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http://finance.yahoo.com/news/Leading-indicators-drop-in-apf-
1541974113.html?x=0&sec=topStories&pos=4&asset=&ccode=

Leading indicators drop in June as recovery slows
Leading indicators fall in June for 2nd time in past 3 months, 
suggesting recovery will weaken 

Tali Arbel, AP Business Writer, On Thursday July 22, 2010, 10:28 am 
NEW YORK (AP) -- A gauge of future economic activity dropped in June, 
the second decline in past 3 months, suggesting the economic recovery 
will weaken.

The Conference Board, a private research group, said Thursday its index 
of leading economic indicators fell 0.2 percent last month. Economists 
polled by Thomson Reuters had expected a drop of 0.3 percent.

The index was revised higher to a 0.5 percent increase in May from the 
initial report of a 0.4 percent gain. The April report was revised to a 
0.1 percent drop from a prior estimate of no change.

The leading indicators gauge had risen almost every month since April 
2009 as the economy rebounded from recession. It was pulled higher by 
the increasing amount of money in the economy, the rebound in 
manufacturing and slow improvements in the job market.

But weakness in the housing sector, faltering consumer spending and high 
unemployment have raised fears about a big slowdown in growth.

"The indicators point to slower growth through the fall," said 
Conference Board economist Ken Goldstein. He said the manufacturing 
rebound will likely slow and there is "little indication" of a pickup in 
the service sector, which employs about 80 percent of the U.S. work 
force.

Five of the 10 indicators increased, while 4 declined and an estimate of 
manufacturers' new orders for capital goods was flat.

Employment data -- fewer hours worked in factories and more people 
filing for jobless aid -- weighed down the index, as did dropping stock 
prices.

The biggest positive contributions were the money supply, which 
increased, and the difference between 10-year interest rates and the 
overnight interest rate that the Federal Reserve has kept at a record 
low near zero. A wide gap between the two can mean investors expect 
economic activity to pick up.

Still, that gap has narrowed recently as investors searching for safety 
bought up 10-year Treasurys, weighing on bond yields.

--- PCBoard (R) v15.3/M 10
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