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The Conference Board released its leading economic index for the U.S. on Friday. The leading economic index increased by 0.1% in August, missing expectations a 0.2% gain, after a flat reading in July. July's figure was revised up from a 0.2% decrease.
Five of the ten indicators rose.
"Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector. However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.