Leading indicators increased in July, in-line with expectations and continuing momentum of an improving economic outlook.
Leading indicators increased 0.3 percent in July, in line with estimates according to economists polled by Reuters. This is down from a gain of 0.6 percent in the prior month, according to the Conference Board.
"The large negative contribution from housing permits, a reversal from June, was more than offset by gains in the financial indicators, new orders and sentiment," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board.
The index is a closely followed indicator for how healthy the U.S. economy is. The Conference Board tracks 10 components, including manufacturers' new orders, stock prices and average weekly initial claims for unemployment insurance.
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