Leading Economic Indicators Drop 0.5% in February

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An index of leading economic indicators fell last month by the most in more than a year, the New York-based Conference Board reported Thursday.The February LEI index fell 0.5%, the group said in its monthly report.The decline was slightly more than the 0.4% predicted by economists, Bloomberg reported.An increase in jobless claims, weaker consumer sentiment and a decline in building permits helped drag the index lower, Bloomberg said.The LEI is closely watched by trucking companies because it forecasts business activity for the next three to six months.