MW: U.S. leading economic index rises 0.9% in July
WASHINGTON (MarketWatch) - The leading economic index for the U.S. rose 0.9% in July, following strong gains in June and May, in another sign that growth has ramped up over the summer. "The LEI improved sharply in July, suggesting that the economy is gaining traction and growth should continue at a strong pace for the remainder of the year," said Ataman Ozyildirim, an economist at the board. A rise in housing permits, stronger job creation and improved stock prices boosted the index in July. Business spending and investment, however, remained on the softer side. The coincident index, which measures current conditions, rose 0.2% in July; the lagging index also advanced by 0.2%.
