The composite index of Leading Economic Indicators was down 0.2% in July following an unrevised 0.6% rise in May, the Conference Board reported Thursday.
The coincident index gained 0.2% in July after an unrevised 0.2% rise in June, while the lagging index grew 0.3% after an unrevised 0.7% rise in June.
The LEI stands at 123.3, the coincident index is at 112.5 and the lagging index is at 118.1 The LEI has a baseline of 100, which reflects the level in 2010.
Economists polled by Thomson Reuters predicted LEI would grow 0.2% in the month.
"The U.S. LEI fell slightly in July, after four months of strong gains. Despite a sharp drop in housing permits, the U.S. LEI is still pointing to moderate economic growth through the remainder of the year," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "Current conditions, measured by the coincident economic index, have been rising moderately but steadily, driven by rising employment and income, and even industrial production has improved in recent months."
