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Leading economic indicators fall 0.3 percent in January

Thursday, Feb. 17, 2005 | 9:18 a.m.

NEW YORK -- A closely watched gauge of future U.S. economic activity slipped 0.3 percent in January, slightly more than expected, indicating possible weakness in the economy in coming months.

The Conference Board, a private research group, said today that its Index of Leading Economic Indicators declined to 115.6 last month after rising a revised 0.3 percent to 115.9 in December.

In a second report, the Labor Department said that prices for imported goods rose 0.9 percent in January as foreign petroleum prices jumped 4.6 percent and the price of non-petroleum imports edged up 0.2 percent. Import prices are expected to continue rising this year as the weaker dollar makes foreign products more expensive for consumers.

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