The Conference Board Leading Economic Index increased 0.3% in July to a reading of 128.3 (2010=100) following a 0.6% increase in June.

“The US [Leading Economic Index] improved in July, suggesting the US economy may experience further improvements in economic activity in the second half of the year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The large negative contribution from housing permits, a reversal from June, was more than offset by gains in the financial indicators, new orders and sentiment.”

Separately, the Philadelphia Federal Reserve’s August 2017 Manufacturing Business Outlook Survey found that current indicators remain positive. Respondents to that survey also expect growth over the next six months.