Conference Board’s index of future US economic activity fell 0.1 per cent in August

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Conference Board\'s index of future US economic activity fell 0.1 per cent in August

WASHINGTON – A measure of U.S. economic activity declined in August for the second time in three months, suggesting the economy remains weak.

The Conference Board says its index of leading indicators, designed to forecast future economic activity, dipped 0.1 per cent in August after rising 0.5 per cent in July and dropping 0.5 per cent in June.

The weakness in August came from declines in manufacturing orders, consumer confidence and average weekly manufacturing hours.

Conference Board economist Ken Goldstein says the index depicts an economy still facing significant domestic and international weakness.

The overall economy grew at an annual rate of just 1.7 per cent in the April-June quarter.

Many economists believe growth will stay weak in the second half of this year.

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