Key indicators foreshadow slowing down of economy
The government's sensitive leading economic indicators went down 0.4 percent in November, the first slippage in 15 months, confirming the economy will grow slower in 1984.
The interruption in the long string of positive readings was a disappointment , but no surprise for government economists who saw the economy leveling off in this quarter. Seven of the 10 indicators available for November contributed to the setback. Negative factors included an increase in the number of new claims for jobless benefits and slippage in the formation of new businesses and orders for factory equipment.
Meanwhile, contracts for new US construction held at a high level in November and indicated 1983's total should be about 25 percent above last year's.