WASHINGTON The government's chief economic forecasting gaugefell 0.4 percent in October, the sixth month of declines or no gainthis year, the government said today.
The drop in the Index of Leading Economic Indicators, which isdesigned to forecast economic activity six to nine months in advance,followed gains of 0.3 percent in September and 0.6 percent in August.Both gains were revised in today's report to reflect a slightlybetter increase than earlier reported.
The October drop was in line with most economists' expectations.
For the first 10 months of 1989, the index has fallen fivetimes, risen four times and remained unchanged in one month.
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