Leading indicators show weak growth

The U.S. index of leading economic indicators rose 0.5 percent in July after rising 0.3 percent in June, the Conference Board said Thursday. The Leading Economic Index in July rose to 115.8 with gains in the money supply and in lower interest rates. That was it, however, for gains. In a statement, Conference Board economist Ataman Ozyildirim said the leading indicators "continued to increase in July. However, with the exception of the money supply and interest rate components, other leading indicators show greater weakness -- consistent with increasing concerns about the health of the economic expansion." "The economy is slow, with little momentum, and shows no indication of acceleration," echoed economist Ken Goldstein, also with the Conference Board. The Conference Board's Coincident Index, which measures current conditions, rose 0.3 percent in July, reaching 103.3. Copyright 2011 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.