Index of leading indicators points to more US economic growth

The index that forecasts the direction of the United States economy posted a strong 0.8 percent increase in June, the Commerce Department reported yesterday. A rise in the index of leading indicators gave weight to the prevailing belief that the economy is expanding at a moderate rate, with no sign of a new recession in sight.

The index advanced in June for the fifth consecutive month in a performance that surpassed many economists' predictions. Higher prices for raw materials was a big factor, indicating that increased demand is driving costs up.

Other positive forces were higher demand for manufactured consumer goods, a jump in building permits, and a big rise in stock market prices.

In another report, the Commerce Department said sales of new homes edged up 3.5 percent in June, recovering slightly from a huge 13.2 percent decline the month before.

You've read  of  free articles. Subscribe to continue.
QR Code to Index of leading indicators points to more US economic growth
Read this article in
https://www.csmonitor.com/1987/0731/ffill31.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe