TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Index of indicators rises, showing economic 'pep'

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

By The Associated Press
Thursday, Sept. 19, 2013, 7:33 p.m.
 

WASHINGTON — A gauge of the economy's health posted a solid gain in August in a sign of stronger growth in coming months.

The Conference Board said on Thursday that its index of leading indicators increased 0.7 percent in August, compared to July, when the index had risen 0.5 percent.

Conference Board economists said that the solid gains in July and August were a good sign after an earlier slowdown.

“The latest reading points to more pep in the pace of economic activity in the near term,” said Conference Board economist Ken Goldstein. “One unknown is how resilient confidence will remain, both consumer and business, given the mixed signals from the housing and labor markets.”

Goldstein said it's unclear whether confidence will be affected by the upcoming debates over passing a federal budget to avoid a government shutdown and raising the debt ceiling to avoid a market-rattling default on the government's debt.

The gain in the index in August was driven by strength in the labor market and financial sectors as well as by rising manufacturing orders. There was weakness in residential construction and consumer expectations.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Falling demand for steel not likely to reverse any time soon
  2. Aggressive drivers to face Progressive surcharges
  3. Credit card use reflects confidence, flat wages
  4. Tourists rush to visit Cuba before Americans
  5. Dow Chemical, Olin in $5B cash-and-stock deal
  6. Economy in steady, but poky expansion
  7. Internet ‘one road in and out’ for rural users
  8. Reliable family car feels upscale
  9. Stop foreign dumping, U.S. Steel CEO Longhi tells Congress
  10. Stocks snap 4-day losing streak; corporate earnings concerns linger
  11. Drillers’ new techniques, experience cut well costs, boost yields