The Conference Board’s index of U.S. leading economic indicators for August increased by 0.3% vs. 0.1% expected by consensus. August’s increase marks the second monthly rise since the indicator contracted by0.2% in June. It also marks an acceleration from July’s 0.1% gain.
Unfortunately, growth will remain sluggish for at least the next six months:
Says Ken Goldstein, economist at The Conference Board: “While the recession officially ended in June 2009, the recent pace of growth has been disappointingly slow, fueling concern that the economic recovery could fade and the U.S. could slide back into recession. However, latest data from the U.S. LEI suggest little change in economic conditions over the next few months. Expect more of the same – a weak economy with little forward momentum through 2010 and early 2011.”