The index of US leading economic indicators rose 0.6 percent in August, marking a fifth consecutive increase and offering more signs of economic recovery, the Conference Board said Monday.
The business research firm said its forward-looking index of economic conditions in the coming months extended its gains after a revised 0.9 percent increase in July and a 0.8 percent jump in June.
''Since reaching a peak in July 2007, the (leading index) fell for 20 months -- the longest downtrend since the mid 1970s -- but it has been rising since April and its gains have become very widespread,'' says Ataman Ozyildirim, economist at The Conference Board.
''The six-month growth rate of the (index) continues to accelerate.''
Other indexes in the research firm's survey appeared to steady. The coincident index of current activity was unchanged in August, after a 0.1 percent rise in July.
The lagging index fell 0.1 percent in August after a 0.5 percent drop in July.
