Small rise in US econ index points to slow expansion

WASHINGTON, Aug 19 (BestGrowthStock) – A key gauge of the U.S.
economy’s prospects was slightly higher in July, pointing to a
“slow expansion through the end of the year,” a private
research group said on Thursday.

The Conference Board said its index of leading economic
indicators rose 0.1 percent in July, in line with analysts’
expectations, after dropping 0.3 percent in June. The board
originally reported that in June the index fell 0.2 percent.

Inventory rebuilding has moderated and the service sector
has seen no growth, said Ken Goldstein, economist at the
Conference Board.

“Combined, the result is a weak economy with little forward
momentum. However, the good news is that the data do not point
to a recession,” Goldstein said.

The coincident index, a measure of current economic
activity, rose in July by 0.2 percent. The lagging index rose
0.4 percent last month.
(Reporting by Lisa Lambert;; Editing by Neil Stempleman)

Small rise in US econ index points to slow expansion