An indicator of U.S. economic activity inched up in August, but missed analyst expectations slightly, suggesting moderate economic growth ahead. (Tweet this)
The Conference Board said Friday its leading economic index increased by 0.1 percent to 123.7 in August following no change in July and a 0.6 percent increase in June. Analysts had expected the index to gain by 0.2 percent in August.
"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, economist at the Conference Board, in a press release.