Economic activity gauge steady near five-year high

WASHINGTON Thu Jul 18, 2013 10:09am EDT

A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange shortly after the market opening in New York July 11, 2013. REUTERS/Lucas Jackson

A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange shortly after the market opening in New York July 11, 2013.

Credit: Reuters/Lucas Jackson

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)

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