Washington - A key gauge of the US economy's performance dropped in March, the private Conference Board said Monday, warning that the US' nearly 15-month recession will likely continue through much of 2009.

The New-York Based Conference Board's Leading Economic Index fell 0.3 per cent on the month, following a 0.2-per-cent decline in February and March.

The report comes amid some small indicators in housing, financial and manufacturing sectors over the last few weeks that suggest the US economy may be improving.

Conference Board economist Ken Goldstein said there were "intermittent signs of improvement" in April but not enough to signal that the recession was ending.

"The recession may continue through the summer, but the intensity will ease," Goldstein said in a statement. (dpa)