The Conference Board reported Thursday that the Composite Index of Leading Economic Indicators dipped 0.1 percent in March, following a 0.5 percent decline in February.

"With the price of a barrel of oil rising above 70 dollars, and with interest rates slowly increasing, the global economy isn't likely to be picking up steam soon," said Ken Goldstein, Labor Economist at The Conference Board. "The spillover from increased energy prices is on the horizon."

Rising business costs and uncertainty in many companies about price hikes is a major consideration now in how fast the domestic economy can grow, especially in the second half of the year. The latest leading indicator readings suggest some slowing in the pace of economic activity through this summer, he added.

The Coincident Index increased 0.2 percent in March, following a 0.2 percent increase in February, and a 0.1 percent increase in January. The Lagging Index increased 0.3 percent in March, following a 0.1 percent increase in February.

Source: Xinhua