The U.S. leading economic index fell 0.6% in April, according to the nonprofit Conference Board. The index, which dropped 1.2% in March, has now declined for 13 consecutive months, indicating that the U.S. economy continues to inch toward a potential recession.

In April, sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — dropped 3.4% from March. Annually, sales were down 23% from a year ago and the seasonally adjusted annualized sales pace dropped from 5.57 million units a year ago to 4.28 million in April.

The number of first-time claims for weekly jobless benefits fell last week to 242,000, down 22,000 from 264,000 the week before, according to data published Thursday by the Department of Labor.

Continuing claims, which are filed by people who have received jobless benefits for more than one week, dipped to 1.799 million for the week ended May 6 from a revised 1.807 million the week prior.