The Conference Board (CB) released its leading economic index for the U.K. on Tuesday. The leading economic index decreased 0.3% in July, after a 0.3% decline in June.

The coincident index was up 0.1% in July, after a flat reading in July.

"The current behaviour of the composite indexes suggests that the economy is likely to continue to grow in the short-term, but the pace is unlikely to pick up," the CB said.