The nation’s economy is headed for a slow expansion through the remainder of 2010, according to the Conference Board‘s Leading Economic Index.
The index increased 0.9 percent to 109.8 in July following a 0.3 percent decline the previous month and a 0.5 percent decline in May.
Conference Board economists said businesses have slowed their efforts to rebuild inventory while the country’s industrial sector has moved at a slower pace. “There appears to be no change in the pace of the service sector,” the Conference Board said.
The result is a weak economy with little forward momentum, although the Conference Board’s data do not point to a so-called “double-dip” recession.
