The nation's composite index of leading economic indicators fell 0.4 percent last month -- the third straight decline for the key gauge of the economy's short-term future, the Council for Economic Planning and Development said yesterday.
The index is made up of seven components, and three of them declined in July compared with the previous month. The three components were the stock market, working hours in the manufacturing sector and the M1B money supply -- including checking account and passbook deposits of companies and individuals, the council said.
The four components that rose in July were new manufacturing orders, land approval for construction, the wholesale price index and the value of exports clearing customs.
The total score of monitoring indicators fell to 35 points last month from 36 in June, but still represented a second consecutive monthly "yellow-red light," indicating the economy was slightly overheated, the council said.
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