Economy poised to grow 3% or more for the rest of 2018, leading indicators signal
The numbers: The nine-year-old U.S. expansion is poised for 3% growth in the second half of 2018, according to an index that measures the nation’s economic health.
The leading economic index rose 0.4% August following even stronger gains in the prior two months, the Conference Board said Thursday.
What happened: The LEI is a gauge of 10 indicators meant to signal peaks and valleys in the business cycle and the broader economy. Most of the components expanded last month, pointing to a 3% or more growth rate in gross domestic product in the final two quarters of the year.
Big picture: The booming U.S. economy expanded at heady 4.2% pace in the spring and is forecast to grow at least 3% in the third quarter, based on the most recent MarketWatch forecast.
If the economy keeps it up, the U.S. might boast its first full calendar year of 3% growth since 2005.
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