The Iowa Leading Indicators Index dropped 0.4 percent in June to 107.6, marking the sixth consecutive month that the gauge of economic activity has declined, the Iowa Department of Revenue said.

A separate index that measures rises and falls in eight areas of economic activity increased in June to 37.5 from 25 in the prior two months, with three of the eight components experiencing positive changes.

Taken together, the six-month annualized averages of the two indexes signal a coming contraction in the economy, one that is being fed in large part by a decline in agriculture economy, according to a release.

The three positive contributors in June were the yield spread, new residential building permits, and the Iowa stock market index.

The yield spread expanded with the long-term interest rate increasing 16 basis points and the short-term interest rate remaining unchanged from May.

The 12-month moving average of residential building permits increased to 881 in June, with the number of permits issued rising 4.6 percent from June 2014. That number is 1.9 percent below the historical average for June.

Twenty-one of 33 Iowa stocks experienced positive gains, including 9 of the 11 financial-sector company stocks. The three strongest gains by percent growth were experienced by Renewable Energy Group, Flexsteel, and Casey’s. Despite the widespread gains, the overall contribution from this component was just above zero, the Department of Revenue said.

There were five negative contributors to the leading indicators, led by the agricultural futures profits index for the fifth straight month. Click here to read the full report.