NEW YORK, May 18 (Xinhua) -- The Conference Board reported Thursday that the Composite Index of Leading Economic Indicators declined 0.1 percent in April, following a 0.4 percent rise in March and a 0.4 percent decline in February.

    "The economy is cooling off from the torrid pace of the first quarter. The composite index of Coincident Economic Indicators increased again in April, an indication that the economy carried some forward momentum into the early part of the second quarter," said Ken Goldstein, Labor Economist at the Conference Board The Leading Economic Indicators.

    This latest decline, combined with some earlier softening, suggests growth in the third quarter may be slower. With the priceof a barrel of oil still around 70 dollars, and with interest rates slowly rising, the economy isn't likely to be picking up steam, he added.

    The Conference Board reports that the Coincident Index increased 0.2 percent in April, following a 0.2 percent increase in March and a 0.2 percent rise in February. The lagging index rose by 0.3 percent in April, after increasing 0.1 percent in March, and no change in February. Enditem