A separate report showed another rise in the index of leading economic indicators.

The gauge, the index of leading economic indicators, fell 0.4 percent in April.

The index of leading economic indicators fell in September for a fourth month.

The index of leading indicators, he said, is overstating present strength.

The index of leading indicators rose 0.7 percent in May, the fourth consecutive monthly increase.

Also yesterday, the Government said the index of leading indicators rose for the first time in six months.

There was also a decline in the government's index of leading economic indicators.

The index of leading indicators is designed to forecast the economy's direction six to nine months in advance.

With the October decline, the index of leading indicators has fallen for four straight months.

The index of leading indicators dropped 0.2 percent in June.