The composite index of Leading Economic Indicators was up 0.1% in August following a flat reading in July, first reported as a 0.2% decline, the Conference Board reported Friday.
The coincident index gained 0.1% in August after a revised 0.4% rise in July, first reported as a 0.2% increase, while the lagging index grew 0.2% after an unrevised 0.3% rise in July.
The LEI stands at 123.7, the coincident index is at 112.6 and the lagging index is at 118.5 The LEI has a baseline of 100, which reflects the level in 2010.
Economists polled by Thomson Reuters predicted LEI would grow 0.3% in the month.
“The U.S. LEI suggests economic growth will remain moderate into the New Year, with little reason to expect growth to pick up substantially,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector. However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months.”
