MW: U.S. Aug. leading economic indicators rise 0.6%
By Rex Nutting
WASHINGTON (MarketWatch) - The U.S. recession is bottoming out and a recovery is near, economists for the Conference Board said Monday after reporting that the index of leading economic indicators rose 0.6% in August, the fifth straight increase. The coincident index - designed to measure current activity - was flat in August after an upwardly revised 0.1% gain in July, the private research organization said. "These numbers are consistent with the view that, after a very severe downturn, a recovery is very near," said Ken Goldstein, economist for the organization. The 0.6% increase in August was weaker than the 0.7% increase expected by economists surveyed by MarketWatch.
