WASHINGTON — A measure of US economic activity designed to give signals about the future posted a solid gain in September, rebounding after a dip in August. The index is still signaling weak growth, however.
The Conference Board said Thursday that its index of leading indicators rose 0.6 percent in September after falling 0.4 percent in August and rising 0.4 percent in July. The previous months were revised down slightly.
The strength in September came from a big jump in applications for building permits, which the government reported Wednesday had climbed to a four-year high that month.
Other areas of strength came from low interest rates and rising stock prices. In all, six of the 10 indicators that make up the index showed strength.
Major areas of weakness were a decline in the Institute for Supply Management’s new orders index and in consumer confidence.
The overall economy grew at an annual rate of just 1.3 percent in the July-September quarter and many analysts believe growth in the second half of this year will continue to muddle along at an annual rate of between 1.5 percent and 2 percent.