An index of leading economic indicators in the United States rose in July, pointing to an economic expansion for the second half of 2013, a business think tank reported on Thursday.
The New York-based Conference Board’s index, which compiles 10 economic indicators of the US economy’s direction for the next three to six months, increased 0.6 per cent to 96.
The figure rose from a flat 95.3 in June, compared to a 2004 benchmark of 100.
“The improvement in the (leading economic index), and pick up in the six-month growth rate, suggest better economic and job growth in the second half of 2013,” economist Ken Goldstein said.
The Conference Board said it saw gains across its range of indicators, but uncertainties remained about the pace of business spending and the impact of slower global growth on US export.
The index is composed of 10 indicators, including manufacturing orders, stock prices and consumer expectations.