An amalgam of leading indicators rose for the fourth straight month in July, supplying further proof that America’s economy is recovering.
The Conference Board’s index of indicators for the next three to six months rose 0.4% last month to 112.5, slightly quicker than the 0.3% hike in June. Five of the ten components climbed, with the economy benefiting from tax rebates, low interest rates and a jump in military spending.
“What we've got this summer is not signs that the economy might get better, but proof that it’s actually getting better,” declared Conference Board economist Ken Goldstein. “The big picture is that after having spent a year and a half in limbo, the economy is finally getting somewhere.”
Data sourced from: Washington Post Online; additional content by WARC staff