Another strong gain in leading indicators points to U.S. economy picking up speed

A broad measure of U.S. economy posted another large increase in August, the latest in a string of strong readings that point to faster growth in the months ahead.

The leading economic index jumped 0.4% last month to cap off a summer of high readings, the Conference Board said Thursday.

“The August gain is consistent with continuing growth in the U.S. economy for the second half of the year, which may even see a moderate pick up,” said Ataman Ozyildirim, director of business cycles and growth research at the board.

The index tracks a number of measures to assess the economy, including employment, layoffs, housing, manufacturing stock prices and interest rates.

The latest report does not reflect the devastation caused by hurricanes Irma and Harvey, but whatever damage they cause the U.S. economy is likely to fade after several months, analysts say.
Source: MarketWatch

Source.