The composite index of leading economic indicators gained 0.6% in July, the Conference Board reported yesterday.
LEI increased a revised 0.8% in June, originally reported as a 0.7% rise.
The coincident index was flat in July, after a revised 0.4% drop in June, originally reported as a 0.2% decrease, while the lagging index fell 0.3% after an unrevised 0.7% decline in June.
Economists polled by Thomson Reuters predicted LEI would be up 0.6% in the month.
"The indicators suggest that the recession is bottoming out, and that economic activity will likely begin recovering soon," according to Conference Board economist Ken Goldstein.
"The coincident economic index was flat in July — the first time it did not register a decline since October 2008," he said. "The leading economic index, which has increased for four consecutive months, suggested that the CEI will turn positive soon."
