The Conference Board’s Leading Economic index for the US rose 0.3% in June to a level of 123.7 (2010 = 100) after falling 0.2% in May.

“The US [Leading Economic Index] picked up in June, reversing its May decline,” said Ataman Ozyildirim, director of business cycles and growth at The Conference Board. “Improvements in initial claims for unemployment insurance, building permits and financial indicators were the primary drivers. While the [Leading Economic Index] continues to point to moderating economic growth in the US through the end of 2016, the expansion still appears resilient enough to weather volatility in financial markets and moderating outlook in labor markets.”

Separately, the US Department of Labor reported today that US initial claims for unemployment fell by 1,000 in the week ended July 16 to a level of 253,000. The four-week moving average of claims fell by 1,250 to a level of 257,750. Reuters reports claims were at a three-month low.