Unemployment, stocks push down leading indicators (AP)

NEW YORK - Factories laying off workers, stocks tumbling and shoppers ditching their credit cards forced the economy to contract in June, a trend likely to continue in the second half of 2008, a private business group said Monday.

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The New York-based Conference Board's forecast of future economic activity fell 0.1 percent last month, in line with forecasts by Wall Street economists surveyed by Thomson Financial/IFR. The group also revised May's number downward to a 0.2 percent decrease, from a 0.1 percent increase.

Full Story: Unemployment, stocks push down leading indicators (AP)

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