Index of indicators rises, showing economic 'pep'
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.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Oakland firm Qualaris Healthcare’s software saves time in hospitals
- Mylan completes inversion with Abbott to move headquarters to Netherlands, lower taxes
- Mud serves as multipurpose tool in $100B shale industry
- Lumber Liquidators shares plunge 25%
- Consumer spending dinged by declining gas prices
- Construction picks up, but workers hard to find
- Nasdaq climbs over 5,000 points ... 15 years later
- Pittsburgh gas pump prices up nearly 9 cents
- Bill Gates repeats at top of Forbes’ list of billionaires
- Rue21 adjusts for tough market
- PNC Bank to cut financing of mountaintop removal coal companies