NEW YORK (AP) — A private research group forecasts that the economy will grow slowly as summer turns into fall.
The Conference Board says its index of leading economic indicators rose 0.3 percent in June. The index had rebounded 0.8 percent in May after dropping 0.3 percent in April. That was the first decline since June 2010 as economic growth slowed.
June’s reading suggests that the recent slowdown in growth won’t worsen into a recession over the next few months, even with high unemployment and a weak housing market.
Many economists expect a moderate pick-up in the second half of the year.
Half of the 10 measures that the Conference Board compiles into its index showed improvement, four declined, and one was steady.