The recession appears to have hit its low point and a recovery may be under way, according to the Conference Board, which said its leading economic indicators were up 0.6 percent in July.
The July increase followed a 0.8 percent gain in June and a 1.2 percent increase in May. The index increased by 3 percent in the six months through July.
However, wary consumers continued to hold the economy back. Consumer expectations, real money supply and building permits negatively affected the index in July while interest rates, unemployment claims and other indicators made large positive contributions.
