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U.S. Leading Economic Index Remains Unchanged In August

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The Conference Board released a report on Thursday showing its reading on leading U.S. economic indicators came in unchanged in the month of August.

The leading economic index was unchanged at 112.1 in August after climbing by a revised 0.4 percent in July. The index had been expected to remain unchanged compared to the 0.5 percent increase originally reported for the previous month.

Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the index came in unchanged as housing permits and the Leading Credit Index offset weakness in the index from the manufacturing sector and the interest rate spread

"The recent trends in the LEI are consistent with a slow but still expanding economy, which has been primarily driven by strong consumer spending and robust job growth," Ozyildirim added.

The report also said the coincident economic index rose by 0.3 percent in August after showing no change in July, while the lagging economic index fell by 0.3 percent following a 0.6 percent increase.

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