The decline in gasoline prices, as much as 50 cents lower than earlier this summer, frees up some spending power for consumers.
Ken Goldstein, Labor Economist

The Conference Board reports that the Composite Index of Leading Economic Indicators declined 0.2 percent in August, following a 0.2 percent decline in July, and a 0.1 percent rise in June.

"The decline in gasoline prices (as much as 50 cents lower than earlier this summer) frees up some spending power for consumers," said Ken Goldstein, Labor Economist at The Conference Board. "On the negative side, the sharp cooling off in the housing market (as well as the continued slow pace of new vehicle sales) weighs on consumers, as indicated in confidence surveys. The deceleration in profit growth probably will translate into some moderation of business spending plans. All this suggests the economy is going to remain slow. And that is basically the message from the Leading Economic Indicators over the past few months: continued modest growth this autumn - probably right through the holiday season and into the winter."