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Leading indicators climb in August, but fall short of Wall Street's mark

Housing starts construction
Chris Ratcliffe | Bloomberg | Getty Images

A gauge designed to predict the economy's future health rose in August but at a much slower pace than in July.

The Conference Board says its index of leading indicators rose 0.2 percent in August, the seventh straight increase. But that was much slower than the revised 1.1 percent gain in July.

Conference Board economist Ken Goldstein says even with the slowdown in August, the index shows the economy is still gaining traction.