Economic activity gauge steady near five-year high
WASHINGTON (Reuters) - A gauge of future U.S. economic activity held at a near five-year high, pointing to an economy that continues to grow at a moderate pace.
The Conference Board said on Thursday that its Leading Economic Index was flat at 95.3 last month, after a revised 0.2 percent increase in May.
Economists polled by Reuters had expected a 0.3 percent gain after a previously reported 0.1 percent rise.
"Some segments of the economy are turning around faster than others, resulting in positive but moderate growth. The biggest uncertainties remain the pace of business spending, the improvements in consumer spending power and the impact of slower global growth on U.S. exports," said Ken Goldstein, an economist at The Conference Board.
(Reporting by Paige Gance; Editing by Chizu Nomiyama)
- Cortege departs to take Mandela's body to lie in state |
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- UPDATE 2-U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- U.S. budget deal could usher in new era of cooperation