WASHINGTON, Aug 20: The forward-looking index of leading economic indicators rose 0.4 per cent in July, suggesting improving conditions later this year, the Conference Board said on Monday.
The business research group said the rise in its index of leading economic indicators, a gauge of activity in the coming six to nine months, to 138.1, more than offset its decline in June.
The figure was in line with Wall Street forecasts.
Conference Board economist Ken Goldstein said the report suggested that “while the financial markets gyrated, the economy continued to perform at a slow but steady pace.” The leading index had fallen in two out of three months through June but the latest report “may be suggesting that the slow but steady economy this summer may continue into autumn, possibly even pick up a little bit,” Goldstein said.
Other indexes in the survey also were higher. The coincident index of current activity increased 0.2 per cent in July, following a 0.2 per cent increase in June. The lagging index advanced 0.2 per cent in July, following a 0.5 per cent increase in June.—AFP
