Bush's booming economy

It continues to go bust:

A closely watched measure of future economic activity fell in July for the second consecutive month, reinforcing evidence that the nation's financial recovery is slackening.

The Conference Board said Thursday its Composite Index of Leading Economic Indicators dropped by 0.3 percent in July to 116.0, following a revised decline of 0.1 percent in June. Last month was the first time in more than a year that the index had lost ground. The July decline was larger than the 0.1 percent dip forecast by analysts.

Economists said the new reading, taken together with a mixed batch of other recent data, points to slower growth in the months ahead.