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Future US economic activity index gains further recovery in July
A measure of future US economic activity rose in July, indicating continued growth in the economy after the recession caused by the coronavirus pandemic, even as the frequency of delta-induced infections rebounded.
The Conference Board said Thursday, August 19, that its index of leading economic indicators rose 0.9% last month to 116.
Economists polled by Reuters had expected a 0.8% increase.
Although the US economy is expected to grow this year at the fastest pace since the 1980s, there are signs that the recovery may be easing.
Bottlenecks in supply chains continue to slow manufacturing growth, and consumer confidence fell in early August to its lowest level in ten years, as Americans gave faltering expectations about everything from personal finances to inflation and employment.
Meanwhile, increases in consumer prices slowed in July, the Labor Department said last week, but overall inflation remained at an unprecedented high level amid supply chain disruptions as well as increased demand for travel-related services.
