By Xavier Fontdegloria

An economic index that measures U.S. business cycles rose in August at a slightly quicker pace than in July, data from The Conference Board showed Thursday.

The Leading Economic index came in at 117.1 in August, up 0.9% compared with the previous month. The rise beats the expectations from economists polled by The Wall Street Journal, who expected a 0.7% increase.

In July, the index increased by 0.8% on month, less than the 0.9% rise previously estimated. The indicator is well above pre-pandemic levels.

“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,” Conference Board Senior Director of Economic Research Ataman Ozyildirim said.

The Conference Board Leading Economic Index is based on 10…

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