The composite index of Leading Economic Indicators was up 0.4% in July following an unrevised 0.3% gain in June, the Conference Board reported Thursday.
The coincident index gained 0.4% in July after a revised 0.2% rise in June, first reported as a 0.3% increase, while the lagging index gained 0.1% after an unrevised 0.1% slip in June.
The LEI stands at 124.3, the coincident index is at 113.9 and the lagging index is at 121.8 The LEI has a baseline of 100, which reflects the level in 2010.
"The U.S. LEI picked up again in July, suggesting moderate economic growth should continue through the end of 2016," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "There may even be some moderate upside growth potential if recent improvements in manufacturing and construction are sustained, and average consumer expectations don't deteriorate further."
Economists polled by Thomson Reuters predicted LEI would gain 0.3% in the month.
