US leading index rises for fourth month in July

An index gauging the U.S. economy's prospects rose for a fourth straight month in July, indicating the recession was leveling out, a private research firm said on Thursday.

The index of leading economic indicators, which is supposed to forecast economic trends six to nine months ahead, rose 0.6 percent to 101.6 after a revised 0.8 percent gain in June.

Wall Street economists had forecast a rise of 0.7 percent after an initially reported 0.7 percent increase in June.

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- Posted: 2009-08-20 10:48:17

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