U.S. leading economic indicator rises slightly in August

WASHINGTON (Reuters) - A gauge of future U.S. economic activity increased slightly in August, suggesting that the economy continues to grow at a moderate pace.

The Conference Board said on Friday that its Leading Economic Index rose 0.1 percent after a revised July figure showed no change.

Economists polled by Reuters had forecast the index rising 0.2 percent last month after July's previously reported 0.2 percent decrease.

"Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector," said Ataman Ozyildirim, director of business cycles and growth research at the Conference Board.

"However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months."

(Reporting by Megan Cassella; Editing by Andrea Ricci)

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