UK's Leading Economic Index Rises

Reversing three consecutive monthly declines, the Conference Board's index of leading economic indicators for the United Kingdom rose four-tenths of a percentage point in July, the most recent month for which data are available. The index now stands at 133.1 (1990=100).

In recent months growth of the UK's economy has slowed, with inflation-adjusted GDP increasing at a 1.8% annual rate during the past three calendar quarters, less than half of the 3.7% average growth rate of the previous four quarters.

"The behavior of the leading index in recent months suggests that economic growth is likely to remain sluggish in the near term," says the Conference Board, a New York-based business research group.

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