The U.S. economy is showing signs of improvement for the second half of the year, according to a new report by The Conference Board.
There was a 0.6 percent increase last month, according to The Conference Board’s Leading Economic Index for the U.S. That improvement follows a month of no change in June, and a 0.3 percent increase in May.
“The pace of the LEI’s growth over the last six months has nearly doubled, pointing to a gradually strengthening expansion through the end of the year,” said Ataman Ozyildirim, an economist at The Conference Board. “In July, average workweek in manufacturing was the weakest component.
”The index is a composite of economic elements that includes the average weekly initial claims for unemployment insurance, manufacturers’ new orders, new private housing unit building permits, 500 common stock prices and the 10-year Treasury bonds less federal funds interest rate spread.