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The Economy This Week
Feb 22, 2008
Source: Inc.com
Several major reports on the economy came out this week, Inc.com reported, and the stock and housing market woes continued to drive down the index of leading economic indicators. For January, the Conference Board reported that leading economic indicators fell by 0.1 percent, which is the fourth consecutive month of decline. Four of ten index components, including consumer expectations and real money supply, improved during January.
Inc.com also reported that consumer prices rose 0.5 percent in January, which is up 4.3 percent from a year ago. Food and energy rose by 0.7 percent and excluding those components, core consumer prices rose by 0.3 percent. The National Federation of Independent Businesses reported that 26 percent of small-business owners plan to raise prices in the months ahead. But in some good news, the number of claims for unemployment dropped by 9,000 last week, to 349,000, according to the Labor Department.
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