February NHBR/e-forecasting economic index falls

Only three of eight components show increases

The NHBR/e-forecasting.com NH Leading Economic Indicator, New Hampshire's early bird of economic activity, fell in February 2014.

The private forecasting service said the composite New Hampshire index of state leading indicators, which is produced jointly with NHBR, fell 0.1 percent in February after rising 0.3 percent in January.

The indicator in February was 129.8, based on a scale on which 2000 is 100.      

Three of the eight components that make up New Hampshire's Leading Indicator had a positive contribution in February: weekly hours in manufacturing; exports by manufacturers; and interest rate spread.

Five of the eight components had a negative contribution to the indicator: unemployment claims; building permits; regional consumer expectations; stock prices; and a national technology index.

Looking at its six-month growth rate, a signal of turning points, New Hampshire's Leading Indicator's six-month growth rate recorded a reading of 4 percent in February, as compared to January’s rate of 4.9 percent.