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.

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. Interest rates likely to stay low until fall
  2. MSA Safety products in demand to protect workers in dangerous jobs
  3. Emergency room visits decline as navigators steer patients to proper medical care
  4. Milk industry swats back at ‘anti-dairy’ trend
  5. Drillers bid millions for oil, gas beneath West Virginia public lands
  6. Listless stock market inches up
  7. U.S. Steel warns it may lay off almost 2,000 workers in Alabama, Texas
  8. Drops in gasoline prices won’t likely last, analysts say
  9. Energy companies vie for experienced workers with skills in high demand
  10. Energy-saving tactics pay off in Green Workplace Challenge
  11. Energy Spotlight: Adam Pope