Washington, DC, August 18--Leading indicators of economic activity increased 0.1% in July, suggesting "moderate growth into the fall," according to the Conference Board.
July’s results matched economist’s forecasts.
The leading indicators increased a revised 1.2% in June, up from 0.9% reported last month. The leading indicators were flat in May.
The coincident indicators rose 0.1% in July, while the lagging index rose 0.3%.
Six of the 10 leading indicators increased in July, led by jobless claims, the interest rate spread and stock prices.
Three indicators declined, led by vendor performance and money supply.
Over the past six months, the leading indicators are up 1.1%, with six of the 10 indicators increasing over that time, "consistent with the economy continuing to expand moderately in the near term," the board said.
"The spike in energy prices is one factor in this outlook," said Ken Goldstein, chief economist for the private economic research group. "Of more concern is the level of business executive and consumer confidence. Both investment and hiring intentions reflect a level of caution over both pricing and profit strategies."
