The composite of the Leading Economic Index was up 0.3% in July following an unrevised 0.6% increase in June, the Conference Board reported Thursday.ted Thursday.
The coincident index gained 0.3% in July after a revised 0.1% rise in June, first reported as a 0.2% increase, while the lagging index was up 0.1% in July, after an unrevised 0.2% rise in June.
The LEI stands at 128.3, the coincident index is at 115.7 and the lagging index is at 124.8 The LEI has a baseline of 100, which reflects the level in 2010.
Economists polled by IFR Markets predicted LEI would be up 0.3% in the month.
“The U.S. LEI improved in July, suggesting the U.S. economy may experience further improvements in economic activity in the second half of the year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The large negative contribution from housing permits, a reversal from June, was more than offset by gains in the financial indicators, new orders and sentiment.”