Leading indicators fall again

NEW YORK — The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group. A separate report showed a drop in weekly claims for unemployment benefits.

The Conference Board said its Index of Leading Economic Indicators fell in October for the fifth straight month. While the declines have been relatively small, they provide a “clear signal that the economy is losing steam,” said Ken Goldstein, an economist for the New York-based group.

The index fell 0.3 percent in October — worse than the 0.1 percent decline that economists had been expecting — following declines of the same amount in September, August and July. The indicator, which is intended to predict economic activity over the next three to six months, now stands at 115.1 versus its all-time high of 116.5 in May.

However, the Conference Board noted that while signs of economic weakness have become more widespread in recent months, the recent declines in the index have not been large enough or persistent enough to indicate that the economic expansion is coming to an end.

Many economists expect the economy could be headed for cooler growth in the months ahead. Recent data have been clouded by the hurricanes in Florida and the runup to the presidential election.

With those factors now gone, the main uncertainties facing the economy are how many jobs will be created in the coming months, as well as how robust consumer spending will be during the holiday shopping season.