Following two consecutive months of decline, the Conference Board's index of leading economic indicators for the U.S. increased a tenth of a percent in June. The index now stands at 138.1 (1996=100).
This suggests, says the New York-based business research group, that U.S. economic growth should continue, although at a "slow to moderate" rate during the next several months.
Six of the ten indicators that make up the leading index rose in June, including average weekly manufacturing hours and manufacturers' new orders for nondefense capital goods. Three index components, lead by vendor performance, fell last month. Manufacturers' new orders for consumer goods and materials were unchanged.
The index of leading economic indicators previews the expected pace of the U.S. economy for the next three to six months.