Market watchers are digesting mixed signals on the health of the U.S. economy today. A predictor of future business activity fell in April, the fourth consecutive decline in a row, but the number of new people signing up for jobless benefits dropped sharply last week.

The U.S. Conference Board said that its Composite Index of Leading Economic Indicators fell 0.2% last month to 114.5. The decline was in line with what analysts expected.

The April drop followed a revised 0.6% decline in March and a 0.1% loss in February.

“The Leading Economic Indicators show continued economic growth, but a definite loss of forward momentum,” said Ken Gold Goldstein, economist at The Conference Board.

The Conference Board reported that five of the 10 components of the leading index increased in April. They included average weekly initial claims for unemployment insurance, building permits, average weekly manufacturing hours, manufacturers’ new orders for nondefense capital goods and manufacturers’ new orders for consumer goods and materials.

The components that fell were the index of consumer expectations, real money supply, interest rate spread, stock prices and vendor performances.

Meanwhile, the U.S. Labor Department reported today that new applications filed for unemployment insurance declined by a seasonally adjusted 20,000 to 321,000 for the week ending May 14. The decline, larger than expected, was the largest drop in claims seen in a month.