An index designed to track turns in U.S. business cycles fell for the 16th straight month in July.
The index was dragged down by a weakening consumer outlook and increased unemployment claims.
It constituted the longest streak of decreases since the lead-up to the 2007-2009 recession.
The Conference Board has said its Leading Economic Index, a measure that anticipates future economic activity, declined slightly more than the median expectation among economists.
