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The U.S. leading economic index rose in July following no change in June, The Conference Board reported today. The index increased 0.6 percent in July to a reading of 96.0 (2004 = 100). The pace of the leading index’s growth over the last six months has nearly doubled, pointing to a gradually strengthening expansion through the end of the year.
“The improvement in the LEI, and pick up in the six-month growth rate, suggest better economic and job growth in the second half of 2013,” said Ken Goldstein, economist at The Conference Board. “However, the biggest uncertainties remain the pace of business spending and the impact of slower global growth on U.S. exports.”