Economic index up slightly
The leading economic indicators went up 1 percent in June, the weakest rise since November. Yet they still foreshadow more economic recovery in the months ahead.
''It is the weakest in seven months, but remember the leading indicators are not designed to show you the strength of the economic recovery, only whether a turn in direction is coming,'' said Larry Moran, Bureau of Economic Analysis spokesman, on Friday.
A decline in new unemployment claims was responsible for boosting six indicators that were positive for June.
But two of the most significant indicators, new orders for business equipment and consumer goods, held back the composite index by turning up in the negative column.