The Conference Board announced on Thursday its Leading Economic Index (LEI) for the U.S. rose 0.9 percent m-o-m in August to 117.1 (2016 = 100), following a revised 0.8 percent m-o-m advance in July (originally a 0.9 percent m-o-m increase).

Economists had forecast an increase of 0.7 percent m-o-m.

The U.S. LEI rose sharply in August and remains on a rapidly rising trajectory,” noted Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “While the Delta variant - alongside rising inflation fears - could create headwinds for labor markets and the consumer spending outlook in the near term, the trend in the LEI is consistent with robust economic growth in the reminder of the year. Real GDP growth for 2021 is expected to reach nearly 6.0 percent year-over-year, before easing to a still-robust 4.0 percent for 2022.”

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. went up 0.2 percent m-o-m in August to 105.9, following a 0.6 percent m-o-m jump in July. Meanwhile, its Lagging Economic Index (LAG) for the U.S. edged up 0.1 percent m-o-m in August to 106.3, following a 0.5 percent m-o-m advance in the previous month.