Leading U.S. indicators point to strong economic growth
The U.S. economy grew rapidly in June and is likely to maintain its recent momentum, according to the leading economic indicators. The index increased 0.7% last month, the Conference Board said Thursday. "While month-over-month growth slowed somewhat in June, the LEI's overall upward trend - which started with the end of the pandemic - induced recession in April 2020-accelerated further in the second quarter," said Ataman Ozyildirim, director of business cycles research at the board." A measure of current conditions rose 0.4%, while a "lagging" index was unchanged. The LEI is a weighted gauge of 10 indicators designed to signal business-cycle peaks and valleys.
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