By Ruth Mantell
WASHINGTON (MarketWatch) - The economy should expand at a "modest pace" through the fall, the Conference Board said Thursday as it reported that its index of leading economic indicators grew 0.5% in July, compared with a 0.4% gain expected by economists polled by MarketWatch. "The economy is slow, with little momentum, and shows no indication of acceleration. The gains in the LEI are modest, especially the nonfinancial indicators," said Ken Goldstein, a Conference Board economist, in a statement. The LEI is a weighted gauge of 10 indicators that are designed to signal business cycle peaks and troughs. Among the 10 indicators that make up the LEI, six made positive contributions in July, led by the real money supply. The largest negative contribution came from the index of supplier deliveries. In June, the LEI rose 0.3%.
