23 January 2003, 14:27  UK leading indicator disappoints in Dec

The UK leading indicator of overall economic activity fell in December to reach 100.43 from 100.73 the previous month to record its lowest reading since May 2001, according to economic and financial research group NTC. The index has now fallen for nine straight months and points at slower UK economic growth in 2003 after peaking in the last quarter of 2002. "The indicator was principally driven down in December by substantially weakened consumer confidence and a further subdued performance from the FTSE non-financials share index," NTC said. The report noted that a record month of new car registrations and solid M4 money supply growth served to suppor
the Indicator, with both series providing significant positive contributions in December "Meanwhile, despite remaining above its long-term trend, November's NTC Coincident Indicator continued to suggest a slowdown in the rate of UK economic growth. The Indicator recorded 100.9, from 101.2 in October, and has now fallen for three successive months to signal a downturn in the business cycle," it added //www.fxcentre.com

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