An economic thinktank forecasts the nation’s economy should remain in a growth mode the remainder of 2018.
The Conference Board Leading Economic Index for the U.S. increased 0.6 percent in July to 110.7, following a 0.5 percent increase in June, and a 0.1 percent increase in May. A reading over 100 indicates economic expansion.
“The U.S. LEI increased in July, suggesting the US economy will continue expanding at a solid pace for the remainder of this year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The strengths among the components of the leading index were very widespread, with unemployment claims, the financial components, and the ISM New Orders Index making the largest positive contributions.”
The Conference Board Coincident Economic Index for the U.S. increased 0.2 percent in July to 104.2, following a 0.3 percent increase in June, and a 0.1 percent increase in May.
The Conference Board Lagging Economic Index for the U.S. fell 0.2 percent in July to 105.2, after a 0.2 percent increase in June and a 0.5 percent increase in May.
The Conference Board Leading Economic Index examines a range of economic activity including new manufacturing orders, stock prices, unemployment data, building permits and new housing construction.
